$TAC 6.2x volume with a -3.7% drop points to distribution, not strength.
My bias remains bearish. The 1H structure has already formed a lower high at 0.002958, while price is trading below the previous higher low at 0.002541. The heavy volume spike combined with aggressive selling suggests distribution and long liquidation rather than a clean reversal setup.
The bearish bias aligns with the weekly structure, although it remains counter-trend against the daily structure and BTC. Because of that, I would avoid chasing the dump and instead wait for a weak relief bounce into the 0.00246–0.00255 supply zone.
A valid short setup requires lower-timeframe confirmation such as a rejection wick, bearish engulfing candle, or a 5M/15M market-structure shift after a liquidity sweep around 0.002469.
Downside targets:
TP1: 0.002267
TP2: 0.00224
TP3: 0.00212
Invalidation: A confirmed 1H close above 0.002958 would invalidate the bearish structure and signal a potential bullish shift.
Patience matters here. Let price come to the setup instead of chasing the move.
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