$INIT : 1H Pullback Long Setup
INIT is up strongly after a vertical move, but RSI is overbought near 70 and the latest 1H candle rejected the 0.30 high. I'm not chasing the top. I'm waiting for a pullback into support to buy the continuation.
Entry: 0.2550 – 0.2620
Stop-loss: 0.2430
- TP1: 0.2850
- TP2: 0.3000
- TP3: 0.3150
Reason: The 1H trend is making higher highs, the 1H MA9 (about 0.2464) is rising as dynamic support, and 0.255–0.262 is the prior breakout zone where buyers can step back in.
📰 News & risk: Initia halted its L1 and rollups on Oct 23 after a security incident, and the project said native INIT supply was not affected. I found no confirmed catalyst for today's pump. Binance also shows a risk warning on this token, so I'm keeping size small and leverage low.
A 1H close below 0.2430 invalidates this idea and I will step aside.
Personal view, not financial advice. DYOR.
Follow for more clean, simple trade setups.
#INIT #Initia #Binance #crypto #futures
INIT is up strongly after a vertical move, but RSI is overbought near 70 and the latest 1H candle rejected the 0.30 high. I'm not chasing the top. I'm waiting for a pullback into support to buy the continuation.
Entry: 0.2550 – 0.2620
Stop-loss: 0.2430
- TP1: 0.2850
- TP2: 0.3000
- TP3: 0.3150
Reason: The 1H trend is making higher highs, the 1H MA9 (about 0.2464) is rising as dynamic support, and 0.255–0.262 is the prior breakout zone where buyers can step back in.
📰 News & risk: Initia halted its L1 and rollups on Oct 23 after a security incident, and the project said native INIT supply was not affected. I found no confirmed catalyst for today's pump. Binance also shows a risk warning on this token, so I'm keeping size small and leverage low.
A 1H close below 0.2430 invalidates this idea and I will step aside.
Personal view, not financial advice. DYOR.
Follow for more clean, simple trade setups.
#INIT #Initia #Binance #crypto #futures
