🚨 $IP stuck in consolidation mode right now, with a bit of a bearish lean. For trading on 1-hour timeframe, I'm thinking cautiously shorting if it breaks down
A few key things standing out: Price is poking at that important support around 3.583. If it cracks below, we might see it slide more to 3.470 (next support). Up top, resistance at 3.90 looks tough, lining up with MA10 and the middle Bollinger band, so breaking higher won't be easy. Short-term signals from 5m to 1H, including those flows, are mostly bearish, though it's getting oversold which might spark a quick rebound
Volume-wise, the recent K-lines are showing less action on the downside, like in those last few candles where price is dropping but volume's fading. That could mean the sellers are losing steam, but I don't see any real bullish flip happening yet.
On capital flows, it's mostly outflows across the board in spot and contracts short-term – think -1.6M USDT on 4H contracts and -1.79M on 4H spot. Feels like the big institutions are pulling out, and there's no strong buying push to counter it.
Entries short $IP : Jump in short below 3.583 with some volume confirmation, or better yet, wait for a bounce up to 3.75-3.80 resistance for a solid entry setup.
Stop-loss: Keep it 3.5-4% above your entry, say 3.72 if you short at 3.58
Targets $IP : Aim for 3.47 (Support level) or push to 3.266 (next support).
