$US 2.9x volume hits as price drops 21.2% in 24H — the selloff looks increasingly stretched, but bears still control the short-term structure.
My bias remains bearish on the 1H: lower highs and lower lows are aligned with the current BTC weakness. However, the daily structure is still bullish, so this remains a counter-trend sell within the larger daily uptrend. I want confirmation before adding size.
The 2.9x volume spike during the sharp 15M dump looks more like aggressive distribution than a clean capitulation flush. OI has dropped 16.2%, taker flow remains seller-dominated, while positive funding shows longs are still paying.
Key downside levels:
TP1: 0.01773
TP2: 0.01642
TP3: 0.01485
Short setup:
Watch the 0.02116–0.02400 supply zone for a failed reclaim. Ideally, price sweeps a local high, prints a bearish engulfing or rejection candle, then confirms continuation lower before entry.
Risk management:
Protection should sit beyond the relevant bounce swing high rather than using an overly tight stop.
Invalidation:
A confirmed 1H close above 0.035209 would invalidate the bearish structure and signal a potential bullish shift.
Flow: OI $14.6M (-16.2% 24H) | Funding +0.0363% | Taker 0.86x
Not financial advice. Trade with confirmation and manage risk.
#US #CryptoTrading #Altcoins #BinanceSquare #Trading $US
My bias remains bearish on the 1H: lower highs and lower lows are aligned with the current BTC weakness. However, the daily structure is still bullish, so this remains a counter-trend sell within the larger daily uptrend. I want confirmation before adding size.
The 2.9x volume spike during the sharp 15M dump looks more like aggressive distribution than a clean capitulation flush. OI has dropped 16.2%, taker flow remains seller-dominated, while positive funding shows longs are still paying.
Key downside levels:
TP1: 0.01773
TP2: 0.01642
TP3: 0.01485
Short setup:
Watch the 0.02116–0.02400 supply zone for a failed reclaim. Ideally, price sweeps a local high, prints a bearish engulfing or rejection candle, then confirms continuation lower before entry.
Risk management:
Protection should sit beyond the relevant bounce swing high rather than using an overly tight stop.
Invalidation:
A confirmed 1H close above 0.035209 would invalidate the bearish structure and signal a potential bullish shift.
Flow: OI $14.6M (-16.2% 24H) | Funding +0.0363% | Taker 0.86x
Not financial advice. Trade with confirmation and manage risk.
#US #CryptoTrading #Altcoins #BinanceSquare #Trading $US