HYPE is bleeding on the 15m chart, but what really catches my eye is the violent sell-off into the $77.70 region. We’ve dropped over 7% in 24 hours, and the structure has printed a clear series of lower highs and lower lows since rejecting the $88.83 high.
Right now, the price is desperately clinging to this $77.70-$78.50 support zone. The moving averages (MA7 at $79.20, MA14 at $79.64) are sloping down hard, acting as dynamic resistance. Volume is spiking on this recent red leg, meaning this is a real distribution phase, not just a slow bleed.
I’m not interested in catching this falling knife. My read is that we are in a bearish trend looking for a temporary bounce, but the real opportunity will come from how price reacts at the $80 structural flip. If we get a weak retest of that $80 level, the shorts will likely take control again.
Trade Plan
Bias: WAIT / SHORT on Retest
Entry Zone: $79.80 – $80.50
Confirmation: Rejection wick and lower-timeframe bearish close at $80 (MA resistance confluence)
Stop / Invalidation: $81.20 (above the recent lower high)
TP1: $77.70
TP2: $76.50
TP3: $75.00
R:R: ~1:2.5
The risk I’m most concerned about is a sudden liquidity sweep below $77.70 that traps early shorts before reversing. If price reclaims $81.20 with strong volume, my bearish thesis is completely dead and I’ll step aside.
Personally, I’d rather wait for the bounce to exhaust itself than guess the bottom here. Who else is watching the $80 level for a short, or are you looking to bid the current support?
@Hype Btc #hype $HYPE
Right now, the price is desperately clinging to this $77.70-$78.50 support zone. The moving averages (MA7 at $79.20, MA14 at $79.64) are sloping down hard, acting as dynamic resistance. Volume is spiking on this recent red leg, meaning this is a real distribution phase, not just a slow bleed.
I’m not interested in catching this falling knife. My read is that we are in a bearish trend looking for a temporary bounce, but the real opportunity will come from how price reacts at the $80 structural flip. If we get a weak retest of that $80 level, the shorts will likely take control again.
Trade Plan
Bias: WAIT / SHORT on Retest
Entry Zone: $79.80 – $80.50
Confirmation: Rejection wick and lower-timeframe bearish close at $80 (MA resistance confluence)
Stop / Invalidation: $81.20 (above the recent lower high)
TP1: $77.70
TP2: $76.50
TP3: $75.00
R:R: ~1:2.5
The risk I’m most concerned about is a sudden liquidity sweep below $77.70 that traps early shorts before reversing. If price reclaims $81.20 with strong volume, my bearish thesis is completely dead and I’ll step aside.
Personally, I’d rather wait for the bounce to exhaust itself than guess the bottom here. Who else is watching the $80 level for a short, or are you looking to bid the current support?
@Hype Btc #hype $HYPE