$KITE bounce looks overextended and the tape still feels heavy.
Trading Plan — Short $KITE (Max 10x)
Entry: 0.257 – 0.267
SL: 0.290
TP1: 0.232
TP2: 0.215
TP3: 0.198
The recent upside move looks more like a relief bounce than true strength. Every push higher is getting sold into, and buyers aren’t showing strong follow through.
There’s no real expansion just quick spikes that fade fast.
Market structure hasn’t changed. Lower highs are still intact, and momentum cools off quickly after each attempt to rally. That’s not impulsive behavior it’s corrective.
Order flow continues to lean bearish, hinting at distribution rather than accumulation. As long as sellers defend this zone and price fails to reclaim higher structure, downside continuation remains the higher-probability scenario.
Manage risk tightly. Let the reaction at entry confirm the bias and let the market do the rest.
