#range Range Breakdown Short: Sell Below $1,837 Targets $1,806 With $1,955 Invalidation
Price crashed from $1,975 to $1,837 in a brutal sell-off. After weak bounce to $1,875, sellers stepped in again. Now testing $1,837 support with clear short setup.
Trade Setup:
Entry: Short ∼$1,837.46 on breakdown of range low
Stop Loss: $1,955.22, above last lower high and range top
Take Profit: $1,806.29, next liquidity zone below
Risk/Reward: Risking ∼$118 to make ∼$31 = 0.26R scalp or hold for $1,800
Key Info for Traders:
Range Lost: Price held $1,950+ for 2 days then nuked. $1,837 is the range low from June 3. Breakdown here = continuation to $1,800.
Weak Bounce: Rally to $1,875 got sold instantly. No follow-through, just lower highs. Bears control every bounce.
Liquidity Below: $1,806.29 level is the next untested zone. Big wick to $1,823 shows buyers got trapped. Stop hunt likely to $1,800.
Invalidation Clear: Back above $1,875 flips short-term bullish. $1,955.22 is major resistance now. SL above it keeps risk defined.
Takeaway:
Clean breakdown short. Enter $1,837 breakdown, SL $1,955, TP $1,806 minimum. If $1,837 holds and reclaims $1,875, exit fast. Trend down until $1,955 breaks.
Note: This is educational technical analysis only, not financial advice. Fast markets need tight risk management. Don't fight the trend.