Strong impulse followed by early exhaustion near local high
$INIT Short
Trade Plan
Entry: $0.1090 – $0.1130
Stop Loss: $0.1240
TP1: $0.1000
TP2: $0.0920
TP3: $0.0840
Why this setup
After a massive expansion move, price wicked into the $0.13 area but failed to sustain momentum. The rejection from highs is now followed by consecutive weak candles, signaling buyer exhaustion after the vertical rally.
Structure is shifting from aggressive markup into potential distribution, with price already slipping back below the $0.11 zone.
As long as price remains under $0.1200, downside liquidity rests near $0.1000 and $0.0920.
Reclaim of $0.1240 invalidates the bearish outlook and signals continuation.
Debate
Is this just a healthy cooldown after a 50% rally… or the start of a deeper retracement phase?
INIT
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