BYBIT:CHZUSDTOrder flow showing big longs that have opened at the top of the 30m candles. Swing failure pattern rejection has happened off the Value area high and Daily resistance, also a Fib golden pocket level. PSAR has already printed a short signal on the 15m and RSI in overbought territory. If 30m and 1hr prints sell on PSAR, this could potentially be a good trade. Long stops most likely placed between 0.1295 and 0.13120 as it is below the swing low on the 1hr. If price hits this zone, we will most likely see quite a few longs liquidated and a run down, possibly to the POC for a 10% gain. T P O Chart shows single prints below this level, which means price is likely to run down without much resistance to the POC.
Ideally you would have entered around 0.13500, but Tight stops and Stops in profit if you decide to enter as price drops through the liquidation zone.
Not Financial Advice. DYOR!
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Price dropped through the liquidation zone. Took 50% profit just below and got stopped out in profit for the remainder of the open position as BTC is in an area where it could bounce