$INJ price action is repelling from 1H Resistance $8.285, forming a bearish reversal candle. 1H RSI at 75.7 signals overbought conditions, indicating a potential exhaustion in buying momentum. A close below $8.285 would support a bearish rejection setup, targeting a drop toward the $7.141 demand floor.
Invalidation of the trade thesis requires a close above $8.285, which would negate the bearish setup and leave the book open to a potential run-up toward $8.784 - a classic example of why chasing middle candles can be a trap. Will $INJ close below $8.285 to initiate the drop toward $7.141?
$INJ $BNB $BTC #INJ #Write2Earn #BinanceSquare
Invalidation of the trade thesis requires a close above $8.285, which would negate the bearish setup and leave the book open to a potential run-up toward $8.784 - a classic example of why chasing middle candles can be a trap. Will $INJ close below $8.285 to initiate the drop toward $7.141?
$INJ $BNB $BTC #INJ #Write2Earn #BinanceSquare
