INJ SELL-SIDE SWEEP — BOUNCE OR TRAP?
$INJ just dropped 5.1%, swept below 7.824, and reclaimed the level — but the broader 1H structure is still firmly bearish with LH/LLs.
My bias remains bearish while price stays below 8.186. The wick looks more like a liquidity grab than a confirmed reversal, especially with BTC also showing bearish structure.
Key levels:
Entry zone: 8.05–8.19
TP1: 7.665
TP2: 7.595
TP3: 7.456
Extended target: 7.231
Bullish invalidation: 8.414
The cleaner setup is a rejection from 8.18–8.31 supply or a fresh 15M MSS lower after a failed reclaim of 8.186.
Flow check:
OI: $36.8M, down 4.9% in 24H
Funding: +0.0100%
Taker ratio: 0.92x
I’m not chasing the wick reclaim. I want sellers to defend below 8.186 with volume and sell-side taker flow before considering continuation.
Wait for confirmation and protect beyond the structure flip.
Not investment advice. Educational report only.
#INJ #Injective #CryptoTrading #Altcoins #Binance $INJ
$INJ just dropped 5.1%, swept below 7.824, and reclaimed the level — but the broader 1H structure is still firmly bearish with LH/LLs.
My bias remains bearish while price stays below 8.186. The wick looks more like a liquidity grab than a confirmed reversal, especially with BTC also showing bearish structure.
Key levels:
Entry zone: 8.05–8.19
TP1: 7.665
TP2: 7.595
TP3: 7.456
Extended target: 7.231
Bullish invalidation: 8.414
The cleaner setup is a rejection from 8.18–8.31 supply or a fresh 15M MSS lower after a failed reclaim of 8.186.
Flow check:
OI: $36.8M, down 4.9% in 24H
Funding: +0.0100%
Taker ratio: 0.92x
I’m not chasing the wick reclaim. I want sellers to defend below 8.186 with volume and sell-side taker flow before considering continuation.
Wait for confirmation and protect beyond the structure flip.
Not investment advice. Educational report only.
#INJ #Injective #CryptoTrading #Altcoins #Binance $INJ