$QNT ⬇️
QNT ripped 55 percent and everyone's chasing green candles, but the chart is handing me the other side of that trade.
Setup: Short
Entry: 186.93
Risk Level: 194.60
Target 1: 171.59
Price has run hard into the top of the range, sitting near the 90 percent mark of the dealing range, which is premium territory and the last place I want to be buying. The swing structure is still leaning down: the recent high at 194.6 was followed by a slightly lower high at 194.0, and the lows keep stepping down from 167.68 to 156.67, so the falling trendline is intact. The bearish character shift seven candles back broke the 167.68 support and price has since clawed back into that same zone. I want to sell this strength toward the previous low, with the stop parked just above the range high where the equal highs sit.
If buyers push through the range high, I'm out without a debate — risk stays small either way.
#CryptoFamily #Trading #QNT
QNT ripped 55 percent and everyone's chasing green candles, but the chart is handing me the other side of that trade.
Setup: Short
Entry: 186.93
Risk Level: 194.60
Target 1: 171.59
Price has run hard into the top of the range, sitting near the 90 percent mark of the dealing range, which is premium territory and the last place I want to be buying. The swing structure is still leaning down: the recent high at 194.6 was followed by a slightly lower high at 194.0, and the lows keep stepping down from 167.68 to 156.67, so the falling trendline is intact. The bearish character shift seven candles back broke the 167.68 support and price has since clawed back into that same zone. I want to sell this strength toward the previous low, with the stop parked just above the range high where the equal highs sit.
If buyers push through the range high, I'm out without a debate — risk stays small either way.
#CryptoFamily #Trading #QNT