qtum short swing

qtum looks bullish at first glance,
but when zooming out there's something bigger at play.

this move from yesterday looks like a simple zig-zag (5-3-5), and its currently resting just beneath the 100% extension.

i believe that the fifth wave is in, and it's currently in a phase of distribution here.

might see one more pop as a raid, before it capitulates to the downside algo target at $11.8

Trade active:

starter position entered here, one more order at 17.5

Comment:

Covered half of my short here at +26%

moved stoploss to breakeven.

Trade closed manually:

i'm out here ~

💸