source avatarTrader Steve

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$BTC just lost the low it defended two days ago, on the heaviest 4h volume in weeks. I'm short-biased, but I'm not selling here. I'm waiting for a bounce into a stacked resistance zone above. The catch: price is already deeply oversold, so the bounce may never come. The prior rebound looked like a reversal. A tech selloff erased it within a day. Why short, and why that zone: - Three of four technical methods (ICT, Wyckoff, Elliott) point down. The only long signal, divergence, is unconfirmed until the higher-timeframe close. - The 4h trend is fully bearish; the 12h lost all three moving averages. - The sell zone stacks a half retracement of the drop, the 12h 200 EMA, and the gap the selloff left behind. Three separate tools marking one area gives sellers a reason to show up. ICT read: the rebound's structure shift failed. The breakdown candle closed near its low on top volume, a clean displacement, and liquidity under the old low was taken without a reclaim. I'm wrong if a 4h candle closes back above the recent rebound high. That would make the break a shakeout. Risks: oversold readings can fuel a squeeze. US jobs data tonight could hit entry and stop in one swing. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.

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