FET · 1H · DOWNTREND

The short setup from my last read is still live and still untriggered — price never reached the 0.1700–0.1710 entry zone, instead grinding lower and now sitting at 0.1623 with the EMA 9, 20, and 50 all stacked bearishly above. The daily trend is down, the MA stack is pointing down, and Q3 results that beat expectations got sold hard — down 4.3% on the day they dropped. That's distribution, not accumulation. Nothing has changed structurally to make me want to flip this read.

The previous short setup's confirmation required a rally to 0.1700–0.1710 first, then a 1H close back below it. That zone was never touched — high since that read was 0.1685 — so the setup remains pending. I'm keeping it as-is: I still want price to push up into that cluster before committing short, because shorting here at 0.1623 puts my entry mid-range between the dense liquidation clusters below (0.1584 and 0.1548) and the entry zone above, giving me poor R/R on the stop to those lower clusters. The dense liquidation clusters below at 0.1584, 0.1548, and 0.1448 are the natural targets if the short triggers — price is statistically drawn toward them and tends to accelerate through.

Funding is modestly long-biased at 0.0100% per 8h — not extreme, but the longs paying shorts adds a small squeeze risk on any sharp down move, which reinforces the view that a flush through those lower liquidation clusters could be violent once it goes.