AVAX · 1H · DOWNTREND

Price has been in a sustained downtrend since late May, dropping from ~9.20 all the way to the 5.80 area before bouncing. That bounce topped out near 7.20 and has since rolled over, printing a clear lower high. Right now price is grinding back up toward the 6.60 zone — which has acted as a notable horizontal level through the middle of the chart — but the macro structure is still firmly bearish: lower highs, lower lows, and the overall trend channel pointing down. The live news context confirms deeply oversold technical conditions with no signs of trend reversal, which fits exactly what I'm seeing — a dead-cat chop rather than a genuine recovery. I'm not interested in the long side here. I'm looking at the current push into 6.60 resistance as a shorting opportunity, and price is right there at that level now, so I'm not chasing — I'm entering at market.

Setup: SHORT

- Entry: 6.525 (market — price is at the 6.60 resistance zone right now, already showing hesitation)

- Stop Loss: 6.80 (above the resistance cluster and recent swing high area)

- Take Profit 1: 6.00 (prior swing low / round number support)

- Take Profit 2: 5.80 (the macro low from the spike down on ~June 19)

- Risk/Reward: 1.9:1 (to TP1)

- Confidence: MEDIUM