Guys, I’m going to open a BIG SHORT on $Q here.
TP: $0.0292
SL: $0.0409
And no, I’m not shorting it just because it pumped.
Before this breakout, there were already a lot of shorts sitting around the previous range. The breakout did its job price pushed higher, forced many of those early shorts out, and made the move look much stronger than before.
That’s exactly why I waited.
Now price is around $0.037–$0.038, but the positioning/data I’m watching is starting to change. The easy short squeeze has already happened, and from here I’m more interested in what happens when fresh buyers stop chasing.
If $Q fails to build clean continuation above this area, I think this whole breakout can start unwinding.
That’s why I’m taking the short after the squeeze, not before it.
My main downside target is around $0.0292.
The market already punished the early shorts. Now I want to see whether it’s the late buyers’ turn. 👀
TP: $0.0292
SL: $0.0409
And no, I’m not shorting it just because it pumped.
Before this breakout, there were already a lot of shorts sitting around the previous range. The breakout did its job price pushed higher, forced many of those early shorts out, and made the move look much stronger than before.
That’s exactly why I waited.
Now price is around $0.037–$0.038, but the positioning/data I’m watching is starting to change. The easy short squeeze has already happened, and from here I’m more interested in what happens when fresh buyers stop chasing.
If $Q fails to build clean continuation above this area, I think this whole breakout can start unwinding.
That’s why I’m taking the short after the squeeze, not before it.
My main downside target is around $0.0292.
The market already punished the early shorts. Now I want to see whether it’s the late buyers’ turn. 👀