$INIT showing classic post-spike exhaustion structure.
After the parabolic expansion, price has clearly cooled off and is now forming lower highs with weakening momentum — a typical distribution pattern following a blow-off top. Volume tapering on bounces suggests buyers are no longer aggressive, while sellers are stepping in on strength.
📉 Short Setup: $INIT
Entry Zone: 0.098 – 0.102
Stop Loss: 0.112
TP1: 0.092
TP2: 0.085
TP3: 0.078
🔎 Technical Outlook
Rejection from spike high confirms exhaustion.
Structure shift on lower timeframes (LH formation).
Failure to reclaim spike midpoint favors downside continuation.
If 0.092 breaks cleanly, momentum acceleration toward 0.085–0.078 is likely.
⚠️ Risk Notes
Invalidation above 0.112 — strong reclaim would negate distribution thesis and signal potential squeeze continuation.
Manage position size accordingly and secure partials at TP1 to reduce exposure.
Stay disciplined.