Oct 9, 00:02
$BTC just broke down out of a two-week bear flag on the 2h chart, and $SEI and $IMX followed on the 4h. One move, three tickers — treat them as the same trade, not three separate ones.
BTC is the cleanest of the bunch: 84-86.8k was a range top built Oct 4-7, and the breakdown comes with taker flow leaning toward sellers (buyers only 43.7% at the break). Reference levels: roughly 81038 entry, 83688 stop, 78416 first target.
SEI is the purest follower — biggest down-day volume since Oct 7, bleeding down from 0.086 since late September. Levels around 0.06568 entry, 0.0706 stop, 0.0608 first target.
IMX is the one I'd handle with care: the pattern looks textbook, but taker buys ran at 64.5% — buyers didn't fully give up. That's exactly what a fakeout snap-back feeds on. Light size or skip.
The broader mood is bearish (BTC and ETH both under their 4h EMA50), so the wind is behind this move. Still, prices are sitting a touch above the reference entries — no reason to chase. If the stops get reclaimed, the idea is dead.
Not financial advice.
#BTC #Bitcoin #SEI #IMX #PriceAction
$BTC just broke down out of a two-week bear flag on the 2h chart, and $SEI and $IMX followed on the 4h. One move, three tickers — treat them as the same trade, not three separate ones.
BTC is the cleanest of the bunch: 84-86.8k was a range top built Oct 4-7, and the breakdown comes with taker flow leaning toward sellers (buyers only 43.7% at the break). Reference levels: roughly 81038 entry, 83688 stop, 78416 first target.
SEI is the purest follower — biggest down-day volume since Oct 7, bleeding down from 0.086 since late September. Levels around 0.06568 entry, 0.0706 stop, 0.0608 first target.
IMX is the one I'd handle with care: the pattern looks textbook, but taker buys ran at 64.5% — buyers didn't fully give up. That's exactly what a fakeout snap-back feeds on. Light size or skip.
The broader mood is bearish (BTC and ETH both under their 4h EMA50), so the wind is behind this move. Still, prices are sitting a touch above the reference entries — no reason to chase. If the stops get reclaimed, the idea is dead.
Not financial advice.
#BTC #Bitcoin #SEI #IMX #PriceAction