INJ · 1H · UPTREND

Price ripped from the 4.00 area all the way to just under 5.00 in roughly three sessions — that's a 25% move off the lows and it's now pressing against the prior range highs from late July / early August around 4.98–5.02. The structure is a clear V-recovery followed by a near-vertical impulse, and right now price is compressing right at the top of that move. I'm not chasing this — the entry was 4.00–4.20 and that ship has sailed. What I'm watching is whether this level holds as a base for continuation or rolls over into a pullback that resets the risk/reward.

The liquidation map is telling: there's a dense cluster sitting just below at 4.97 and another at 4.86 — price is sitting right on top of the 4.97 cluster. That's a magnet, not a floor. Any dip here has a high probability of sweeping that 4.97 level before reversing, and 4.86 is the real support if that sweep goes deeper. On the upside, clusters at 5.08 and 5.13 are the first targets — those are where longs get squeezed out and the move stalls. Funding at +0.01% per 8h is mildly elevated but not extreme — longs are paying, which means a short squeeze isn't imminent, but it also means a flush of late longs is the most likely near-term move before continuation.

My read: this is a time-correction-then-break setup. If price consolidates just under 5.00 for several bars without printing a meaningful lower high structure, and then breaks above 5.02 with a close, that confirms the range compression resolved bullish. I'm waiting for that close — not buying into the resistance test blind.