LINK · 1H · DOWNTREND

The structure on this chart is clear — LINK put in a major top near 9.80 back in late May, then printed a sustained series of lower highs and lower lows all the way down through early June, bottoming around 7.00. Price then attempted a recovery into the 8.60 zone around June 15, but that rally got rejected hard and the sell-off resumed. Right now price is printing fresh lows at 7.572, breaking below the prior consolidation floor around 7.60 that had held since early June. That breakdown is active and I'm treating the current level as a failed support turning into overhead resistance. I'm short here — the structure is bearish, the recent bounce failed at 8.60, and price is now making new lows with volume picking up on the right side of the chart. Mid-range entries between 7.60 and 8.60 had poor R/R; this breakdown through 7.60 is the confirmation I needed.

Setup: SHORT

- Entry: 7.572 (market — active breakdown through prior support at ~7.60)

- Stop Loss: 7.720

- Take Profit 1: 7.350

- Take Profit 2: 7.100

- Risk/Reward: 1.5:1 to TP1 / 3.2:1 to TP2

- Confidence: HIGH