📉 $INIT Technical Analysis: Why the Bears are Still in Control
Our $INIT short position is officially printing! As we anticipated, the market structure has shifted, and the bears have firmly seized control. If you followed the previous setup, you are currently sitting in a solid profit zone. 💰
🔍 Market Structure Breakdown
Failure to Reclaim Support: $INIT has repeatedly failed to hold its immediate support levels, which have now flipped into strong resistance. This "break and retest" pattern is a classic sign of bearish continuation.
Weak Buying Pressure: Despite several attempts at a bounce, the volume from buyers is declining, indicating that the "bullish exhaustion" is real.
Momentum Indicators: Momentum remains heavily skewed to the downside. The trend is currently respecting a descending channel, making it difficult for any sudden reversal.
🛠 Profit Management Strategy
While the trade looks great, Risk Management is what separates a gambler from a professional trader. Here is how you should handle the current move:
Partial Profit Taking (TP): It is always wise to secure some gains when the trade is in the "green." Don't wait for the absolute bottom.
Move Stop Loss (SL) to Entry: To ensure a "risk-free" ride, move your SL to your entry point or slightly into profit. This way, even if the market spikes, you won't lose capital.
Let the Winners Run: If the bearish momentum extends, keep a small portion of the position open with a trailing stop to capture maximum downside.
💡 Final Verdict
The trend is your friend until it ends. Currently, the trend for $INIT is undeniably bearish. Stay disciplined, avoid "revenge long" attempts, and let the price action guide your next move. 📉🔥
Are you still holding the $INIT short, or have you already booked your profits? Let me know your targets in the comments! 👇
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