BitcoinShort
BTC short set-up
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Hello everyone, I promised to do some more smaller timeframe set-ups, so I guess here we go haha.
Most of my bigger areas and levels are explained more thoroughly on my HTF analysis from a while back, this idea is private but I'll link it in this post, if you're interested!
4h:
I only use the 4h here to give a small amount of HTF context. The setup presents itself ready for execution on the 1h.
The red bearish orderblock that can be found on the Daily has done an extra-ordinary job containing price action. Whilst staying in the supply zone,
we managed to grab liquidity (stop & breakout orders) above the June 19 highs. In my opinion, price needs to grab liquidity on the downside, before being able to get another go at the previously mentioned red zone.
This liquidity is presenting itself under the marked green lows around 5700, and the newly generated ''equal lows'' at 6255. Price will likely reach for these areas shortly.
1h:
On the 1h we can clearly see we made a lower low today. If we get a consecutive lower high, which is very likely unless we magically pump to 6900, market structure is broken.
The most logical place where I see this lower high form is a 1h horizontal level accompaniet by a 1h bearish orderblock. Some late shorts will be shaken out, and perhaps some longs will be trapped on the wrong side of the market.
My first logical target would be the liquidity under the equal lows at 6255, where some profits will be taken. My final target would be the bullish D1 breaker around 6100, where I might also consider flipping long.
Any price action under that D1 breaker would signal price reaching for the 5700 lows, but that's a story for another time ^^.
I've indicated the price movement I am looking for (to visualize this idea), in pink.
Moreover, I've indicated my invalidation level, where this idea turned out to be wrong (this is where my stop shall be).
Conclusion:
Shorting set-up because of of a likely break in market structure.
Asks around 6450 with targets at roughly 6250 and 6100.
If you enjoyed the post, I'd appreciate a thumbs up, as it takes an great amount of time to make the charts look presentable and write out the entire plan into a digestable story.
Safe trading! - NielsvH
Most of my bigger areas and levels are explained more thoroughly on my HTF analysis from a while back, this idea is private but I'll link it in this post, if you're interested!
4h:
I only use the 4h here to give a small amount of HTF context. The setup presents itself ready for execution on the 1h.
The red bearish orderblock that can be found on the Daily has done an extra-ordinary job containing price action. Whilst staying in the supply zone,
we managed to grab liquidity (stop & breakout orders) above the June 19 highs. In my opinion, price needs to grab liquidity on the downside, before being able to get another go at the previously mentioned red zone.
This liquidity is presenting itself under the marked green lows around 5700, and the newly generated ''equal lows'' at 6255. Price will likely reach for these areas shortly.
1h:
On the 1h we can clearly see we made a lower low today. If we get a consecutive lower high, which is very likely unless we magically pump to 6900, market structure is broken.
The most logical place where I see this lower high form is a 1h horizontal level accompaniet by a 1h bearish orderblock. Some late shorts will be shaken out, and perhaps some longs will be trapped on the wrong side of the market.
My first logical target would be the liquidity under the equal lows at 6255, where some profits will be taken. My final target would be the bullish D1 breaker around 6100, where I might also consider flipping long.
Any price action under that D1 breaker would signal price reaching for the 5700 lows, but that's a story for another time ^^.
I've indicated the price movement I am looking for (to visualize this idea), in pink.
Moreover, I've indicated my invalidation level, where this idea turned out to be wrong (this is where my stop shall be).
Conclusion:
Shorting set-up because of of a likely break in market structure.
Asks around 6450 with targets at roughly 6250 and 6100.
If you enjoyed the post, I'd appreciate a thumbs up, as it takes an great amount of time to make the charts look presentable and write out the entire plan into a digestable story.
Safe trading! - NielsvH
Nota
Exact asks:1/3 @ 6430
1/3 @ 6469
1/3 @ 6520 (enter as close to your stop as possible for maximum R:R and position size)
Full stop @ 6566 (come and get it whales ^^)
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