๐ง Market Bias:
Short-Term Bearish โ After a strong pump, price is losing momentum and showing early rejection signs below resistance.
๐ Technical Breakdown:
๐บ Strong bullish rally earlier pushed price above $110K.
๐ด Major resistance at $110,836 (clearly respected with a long upper wick).
๐ Price is now trading below the 9 EMA (109,720), suggesting sellers are stepping in.
๐ Red-to-green trade box indicates active short position:
Stop Loss: ~$110,836 (above local high)
Entry: ~$109,676
Targets:
TP1: $106,932
TP2 & TP3: Lower green zones around $106,400, $105,600, and $105,200
๐ง Mindset Insight:
โAfter euphoria comes the trap.โ
This looks like a classic post-pump lower high forming โ ideal for contrarian short traders with tight control over risk.
โ๏ธ Setup Details:
โ
Confluence:
Resistance rejection at $110.8K
EMA breakdown
Failed continuation after strong impulse
๐ Risk-Reward: Favorable (more than 1:3 RR depending on TP levels)
๐ฉ Invalidation Zone:
If BTC reclaims and closes above $110,836, this setup is invalid. Look for bullish continuation from that point.
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