Post
--Bearish
PREMIUM ANALYST
·
--
Bearish$PTB USDT (Portal To Bitcoin) forming a very clean lower high structure on the 1H frame.
It printed a nice bullish wave out of the 0.0005145 accumulation pocket, making a high at 0.0006275. However, the sellers heavily stepped in right at that peak, giving us a sharp rejection candle. Right now, the price is hanging at 0.0006010, trying to print a minor support candle, but the broader momentum is rolling over fast as volume starts dying down ($4.25M USDT).
The bulls are out of gas here for the short term, and it looks primed to bleed down to sweep the lower liquidity before finding real buyers.
SHORT $PTB NOW
• Entry Range: 0.0005950 - 0.0006150
Targets:
1. 0.0005650
2. 0.0005400
3. 0.0005150
Stop Loss: 0.0006380
Watch your leverage closely, keep it tight.
It printed a nice bullish wave out of the 0.0005145 accumulation pocket, making a high at 0.0006275. However, the sellers heavily stepped in right at that peak, giving us a sharp rejection candle. Right now, the price is hanging at 0.0006010, trying to print a minor support candle, but the broader momentum is rolling over fast as volume starts dying down ($4.25M USDT).
The bulls are out of gas here for the short term, and it looks primed to bleed down to sweep the lower liquidity before finding real buyers.
SHORT $PTB NOW
• Entry Range: 0.0005950 - 0.0006150
Targets:
1. 0.0005650
2. 0.0005400
3. 0.0005150
Stop Loss: 0.0006380
Watch your leverage closely, keep it tight.