đ´ INITUSDT â FUTURES SHORT (1H SCALP, awaiting retest)
$INIT
Entry Zone: $0.3100 â $0.3150
Stop Loss: $0.3240
TP1: $0.2900
TP2: $0.2730
TP3: $0.2600
R:R: 1:1.96 (TP1) | 1:3.43 (TP2) | 1:4.57 (TP3)
TF: 1H SCALP
INIT spiked from around $0.167 to $0.332 in a day â nearly doubling â then sellers slammed it back down in one hour on the biggest volume of the day, and it has been making lower highs ever since. The $0.316â$0.322 zone has now rejected price six times, and the current hour is breaking down below $0.30. I am not chasing that fall; I am waiting for a bounce back into the ceiling zone.
Why I like this one: a spike that gets rejected hard on huge volume, followed by lower highs, is a real reversal structure, not just a big percentage. If price comes back to $0.310â$0.315 and rejects again, the first target is $0.290, then $0.273, then $0.260.
Invalidation: a 1H close above $0.322 kills this idea â that would mean buyers finally broke the ceiling. No trade until the retest zone is touched.
Analysis Only â Not Financial Advice (NFA). Trading involves risk.
Follow Profit Direction for more signals, best signals and market updates. Share your opinion in the comments.
Do you think INIT will retest $0.312 and reject it, or break above $0.322 first? Comment SHORT or LONG.
#INIT #INITUSDT #CryptoTrading #BinanceFutures
$INIT
Entry Zone: $0.3100 â $0.3150
Stop Loss: $0.3240
TP1: $0.2900
TP2: $0.2730
TP3: $0.2600
R:R: 1:1.96 (TP1) | 1:3.43 (TP2) | 1:4.57 (TP3)
TF: 1H SCALP
INIT spiked from around $0.167 to $0.332 in a day â nearly doubling â then sellers slammed it back down in one hour on the biggest volume of the day, and it has been making lower highs ever since. The $0.316â$0.322 zone has now rejected price six times, and the current hour is breaking down below $0.30. I am not chasing that fall; I am waiting for a bounce back into the ceiling zone.
Why I like this one: a spike that gets rejected hard on huge volume, followed by lower highs, is a real reversal structure, not just a big percentage. If price comes back to $0.310â$0.315 and rejects again, the first target is $0.290, then $0.273, then $0.260.
Invalidation: a 1H close above $0.322 kills this idea â that would mean buyers finally broke the ceiling. No trade until the retest zone is touched.
Analysis Only â Not Financial Advice (NFA). Trading involves risk.
Follow Profit Direction for more signals, best signals and market updates. Share your opinion in the comments.
Do you think INIT will retest $0.312 and reject it, or break above $0.322 first? Comment SHORT or LONG.
#INIT #INITUSDT #CryptoTrading #BinanceFutures
