Why I’m looking short: - Higher timeframe alignment: Daily is still bearish and my MTF model just switched to SHORT with ~85% conviction. - Momentum is weak: 15m RSI at 35.57. That’s distribution, not buyers stepping in. - Price action: We’re sitting right in the entry at 63693.50. If 63661 gives way, the next stops are 63118 and 62735. Path of least resistance is down. - Timing: Setup is “Armed” now. Invalidation at 64628 is close, so risk is defined and R:R is attractive before the next drop.
The real question: Are you shorting this relief bounce, or will the 1H ATR of 212 spike us and take out the short?
The Case: - 1D: Still downtrend - 4H: Short signal triggered - 15m RSI: 27.42 = sold off, not bottomed - Structure is weak. No strong buyers stepping in
Break above 0.0921 and I’m wrong. Until then, bears are in control.
What do you think? A) Final flush then bounce B) Unplugged from here
Drop your take below 👇 DYOR. This is not financial advice.
Bearish pressure is building on $RONIN after a rejection from the $0.0560 supply zone. Price has now broken below $0.0537, and if sellers stay in control we could see a deeper move down.
Market is freaking out and panic-selling into local lows. But the chart is forming a clean demand zone down here. Smart money usually watches these levels.