According to QVX momentum, we're SHORT.
Entry is staged into the 71,200–71,776 resistance band, where prior rejection and supply overlap. Invalidation sits above 71,776 on a daily close; stop at 72,050. Initial target is 67,568 support, with a secondary objective at 66,800 if momentum accelerates. Position sizing at 0.5% account risk, roughly 1.8R to first target. Coinbase premium negative for 51 straight sessions confirms weak U.S. spot demand, so rallies are treated as distribution rather than reversal. I will scale 50% at target one and trail the remainder under the 8-hour EMA. 📉
Entry is staged into the 71,200–71,776 resistance band, where prior rejection and supply overlap. Invalidation sits above 71,776 on a daily close; stop at 72,050. Initial target is 67,568 support, with a secondary objective at 66,800 if momentum accelerates. Position sizing at 0.5% account risk, roughly 1.8R to first target. Coinbase premium negative for 51 straight sessions confirms weak U.S. spot demand, so rallies are treated as distribution rather than reversal. I will scale 50% at target one and trail the remainder under the 8-hour EMA. 📉