📊 $IREN Technical Analysis & Setup
The recent buy-side sweep above 19.28 faced a fast rejection, sealing the aligned multi-timeframe downtrend rather than a reversal.
• Key Support / Demand: 18.74 followed by the 18.46 swing-low liquidity level.
• Resistance / Supply Targets: 19.28 initial resistance, with the critical flip level at 19.96.
• Trigger / Confirmation: Lower-timeframe market structure shift or rejection below 19.28 before entering shorts.
• Risk / Invalidation: A daily close above 19.96 invalidates the bearish bias.
• Market Execution: Entry zone targeted at 19.50–19.82 after a pin bar or engulfing pattern forms, managing risk tightly above the 19.96 level.
DYOR — Educational setup, not financial advice.
#BinanceSquare #Crypto #IREN #Trading
The recent buy-side sweep above 19.28 faced a fast rejection, sealing the aligned multi-timeframe downtrend rather than a reversal.
• Key Support / Demand: 18.74 followed by the 18.46 swing-low liquidity level.
• Resistance / Supply Targets: 19.28 initial resistance, with the critical flip level at 19.96.
• Trigger / Confirmation: Lower-timeframe market structure shift or rejection below 19.28 before entering shorts.
• Risk / Invalidation: A daily close above 19.96 invalidates the bearish bias.
• Market Execution: Entry zone targeted at 19.50–19.82 after a pin bar or engulfing pattern forms, managing risk tightly above the 19.96 level.
DYOR — Educational setup, not financial advice.
#BinanceSquare #Crypto #IREN #Trading
