INJ · 1H · SIDEWAYS

The long setup from my last read called for a pullback to the 7.87–8.00 zone followed by a 1H close back above 8.05. That zone was never reached — the low since that read was 8.064, and price has since drifted back up to 8.23. The setup never triggered, so there's nothing to close out. What I'm looking at now is INJ sitting mid-range on the 30m/1H, having bounced hard off the 6.80–7.00 lows earlier in the month, rallying to tag 8.58, and now consolidating in the 8.00–8.60 band. The daily structure is sideways and there's no clean directional edge right now — price is in the middle of the range that matters, not at an extreme worth fading.

The funding rate at -0.0481% per 8h is meaningful — shorts are paying longs at a rate that's close to extreme territory, which puts the short-side crowd in a vulnerable squeeze if price pushes higher. That tilts my lean toward the upside, but it's not a signal by itself. I need a structure trigger, not just a funding read. The dense liquidation cluster at 8.61 is the magnet above — a push through there would run stops on the crowded short book. Below, 7.87 is the first dense cluster and the floor I want to see hold on any dip.

I'm not chasing price at 8.23. That's the middle of the 8.00–8.60 range, and both scenarios require price to come to a level first.