Down 44.83% in a day, $INIT is at 0.1337. Think there’s no room left to fall? I actually think the bears’ story isn’t over yet.
For holders, the hardest part right now isn’t how much it’s dropped—it’s that it’s still bounced 2.97% in the past hour. You’re afraid to sell in case you’re selling at the bottom, but also afraid to hold in case this is just a brief breather halfway down. The 24-hour high of 0.2480 is still hanging overhead, the midpoint at 0.1792 is weighing on it, and the current price isn’t far from the low of 0.1105. It’s an awkward spot, to say the least.
I’m leaning toward watching for a short, but not chasing it here: wait and see if it gets rejected near 0.1792 (the 24-hour midpoint) on a rebound. If it moves decisively above 0.1792, I’ll change my mind immediately. Direction: watch for a short. Reference range: 0.1337–0.1792; invalidation above 0.1792; target near 0.0655 (based on a 1.5 risk-reward ratio). Risk level: high.
At this point, do you think shorting is going with the trend, or chasing the market after it’s already moved?
For reference only, not investment advice. Pay attention to position sizing.
$INIT
#INIT #Trading Opportunity
For holders, the hardest part right now isn’t how much it’s dropped—it’s that it’s still bounced 2.97% in the past hour. You’re afraid to sell in case you’re selling at the bottom, but also afraid to hold in case this is just a brief breather halfway down. The 24-hour high of 0.2480 is still hanging overhead, the midpoint at 0.1792 is weighing on it, and the current price isn’t far from the low of 0.1105. It’s an awkward spot, to say the least.
I’m leaning toward watching for a short, but not chasing it here: wait and see if it gets rejected near 0.1792 (the 24-hour midpoint) on a rebound. If it moves decisively above 0.1792, I’ll change my mind immediately. Direction: watch for a short. Reference range: 0.1337–0.1792; invalidation above 0.1792; target near 0.0655 (based on a 1.5 risk-reward ratio). Risk level: high.
At this point, do you think shorting is going with the trend, or chasing the market after it’s already moved?
For reference only, not investment advice. Pay attention to position sizing.
$INIT
#INIT #Trading Opportunity