LINK · 1H · UPTREND
Price bottomed at 7.90 on August 2nd and has since printed a clear sequence of higher lows and higher highs, recovering from 7.90 all the way to 8.90 — over 12% off the low. The move into the right side of the chart is impulsive: the push from ~8.20 through 8.50 and then up to 8.90 came with expanding candle bodies and no meaningful retest of broken resistance. Right now price is sitting at 8.82, consolidating just under the 8.90 swing high in what looks like a time correction — the range low around 8.65 is holding, and there are no lower highs forming yet. My read is that this is compression before a continuation push, not a rollover. I'm not chasing this mid-range — I want to see the 8.90 level taken out cleanly before committing, and the liquidation cluster at 8.98 sitting just above is a magnet that makes the upside case structurally sound. The 8.54 cluster below is my natural invalidation anchor — that was resistance before it was broken, and a flush back through it would mean sellers reclaimed the structure.
LONG SCENARIO
Confirmation
8.90
Closing above 8.90 on the 30m/1H confirms bullish continuation — at that moment the compression range is broken, the prior swing high is cleared, and the 8.98 liquidation cluster becomes the immediate magnet.
Invalidation
8.54
Structure invalidated below 8.54 — that level was prior resistance turned support and sits at the dense liquidation cluster; a close below it means sellers are back in control.
Target 1
8.98
Dense liquidation cluster just above; first fuel stop where the move likely pauses or accelerates through.
Target 2
9.19
Next dense liquidation cluster above; measured from the base of this consolidation, this is the clean structural objective.
Risk/Reward
(8.98 - 8.90) / (8.90 - 8.54) = 0.08 / 0.36 — waypoint only, so using T2: (9.19 - 8.90) / (8.90 - 8.54) = 0.29 / 0.36 ≈ 0.8:1 from confirmation. Better entry on a pullback to 8.65–8.70 range low improves this to approximately 1.5:1 against the same invalidation
Resistance: 8.90 / 9.19
Support: 8.54 / 8.32
This is not financial advice. Content is AI-generated.