$INIT didn’t move because buyers got excited it moved because sellers ran out of time.

Look closely at what happened before the breakout. Price wasn’t trending hard, it was compressing upward. Higher lows, but no follow-through. That’s not strength that’s pressure building. Every small dip was getting absorbed faster than the previous one. Sellers were still present, but they were losing control candle by candle.

Then comes the key moment: the breakout candle didn’t grind up, it snapped. That’s a tell. When price jumps like that after compression, it’s usually because offers thin out suddenly. Not a flood of buyers a vacuum of sellers.

Notice the wick near 0.1232. That’s not rejection in the bearish sense. That’s price discovery hesitation. Market jumped zones too fast and paused to see who’s willing to transact here. The pullback wasn’t aggressive, volume didn’t spike on the red meaning nobody rushed to exit.

Another important detail:

The structure didn’t reset to the old range. INIT held above the previous consolidation ceiling instead of falling back into it. That’s acceptance, not a failed breakout.

Order book bias is bid-heavy right now, which usually means:

Early buyers aren’t distributing yet

Late buyers are waiting for confirmation

Market is stuck in a short-term patience game

This is the kind of setup where nothing happens… until it suddenly does. If price keeps holding this zone without bleeding volume, the next move won’t need a big catalyst it’ll just be a continuation because liquidity below keeps getting removed.

Key idea:

INIT isn’t being chased yet. It’s being allowed to sit higher. That’s how trends quietly extend.