#AVAX what’s the point of saying anything— the order book has already chosen the direction for you: for spot, a buy has 8,069 orders lined up, and a sell has 11,078 orders; the buy-to-sell ratio is 0.73. Sell pressure is pressing down the buy side—this is called a depth imbalance, not a washout. To be frank, this market is strong supply and weak demand; speculative demand has systematically cooled down, and during the decline it didn’t let up even once. On the contract side, active sell orders of 225,487 are pressing over buy orders of 217,433. The basis turned negative and is still worsening; any rebound is crushed around the 10.5 line. Go short at 10.476. First target: 9.972. Only when it breaks below 10.074 is the trend considered properly back on track; stop-loss at 11.3. If it rises above that, admit fault and exit.