$HYPE Spot supply-selling pressure has already pushed the board through; the taker’s主动卖 volume is twice the buy volume. The buy side can’t hold at all—this isn’t a pullback; it’s distribution. On the 4H chart, four of six candles are bearish. After MA50 broke down, the rebound can’t even hold above 94. The weakening at the high is most afraid of further amplifying divergence. Enter short at 94.2; first target 89.6, stop-loss at 98.2. If 89.6 is lost, it won’t be a normal consolidation—then look directly at 76.7.