$IREN sitting at a critical decision point here — let's break down the structure.
Price just flushed down to the $30 support wall. This is your line in the sand. The setup is simple: you're either buying a hold at $30, or you're waiting for a clean reclaim above $32 to confirm buyers are back in control.
Why $30 matters: It's the last structural support before things get messy. If it holds, you've got a bounce setup. If it breaks, you're looking at $29.95 as the next floor — and that's where invalidation lives.
The play: No chase here. Let the level prove itself. A hold at $30 with volume gives you the long. A close back above $32 confirms the recovery and shifts momentum. If $30 fails, you step aside — simple as that.
Target zone is $35 by 10/30 if structure cooperates, but that's only in play if support holds and we reclaim $32 first. Trade the levels, not the hope.
Price just flushed down to the $30 support wall. This is your line in the sand. The setup is simple: you're either buying a hold at $30, or you're waiting for a clean reclaim above $32 to confirm buyers are back in control.
Why $30 matters: It's the last structural support before things get messy. If it holds, you've got a bounce setup. If it breaks, you're looking at $29.95 as the next floor — and that's where invalidation lives.
The play: No chase here. Let the level prove itself. A hold at $30 with volume gives you the long. A close back above $32 confirms the recovery and shifts momentum. If $30 fails, you step aside — simple as that.
Target zone is $35 by 10/30 if structure cooperates, but that's only in play if support holds and we reclaim $32 first. Trade the levels, not the hope.