SEI · 1H · DOWNTREND

The continuation long from my October 3rd read is stopped out — price broke and closed below 0.0648, sweeping that invalidation level cleanly. The move since then has been brutal: price ground from the 0.0750s all the way down to a low of 0.0604, printing a clear series of lower highs and lower lows across the right side of this chart. That is not a pullback anymore — that is a full breakdown of the structure I was trading. I'm starting clean.

The daily trend is still technically up, so any short here is counter-trend and I'm holding it to a higher bar. But the 1H structure is unambiguously bearish: every bounce has been sold, the range that previously held between 0.0648 and 0.0733 has been broken from the top down, and price is now pressing into new lows on this chart near 0.0604. The liquidation map below is dense — clusters stacked at 0.0624, 0.0614, and 0.0599 — which means there's fuel below if sellers stay in control, but also risk of a fast flush-and-reversal once those levels are swept. Funding is mildly long-biased at 0.0100% per 8h, so longs are still paying — no extreme squeeze risk either way, but the crowd is still leaning long into a falling chart, which keeps me cautious about buying aggressively here.

What I'm actually doing: I'm not chasing the breakdown here. Price is sitting at 0.0635 with dense clusters below at 0.0624 and 0.0599 — a long-style flush into those and a reclaim would be the cleanest setup, but that's a daily-uptrend fade-the-extreme play, not a momentum entry. For a short, I want price to bounce into structure first — the 0.0662 cluster overhead is the natural magnet for any relief rally, and a failed attempt to reclaim it gives me a confirmed lower high with a defined stop above the 0.0704 cluster. I'm not touching the middle of this range.

The news context is all NYSE:SEI and NASDAQ:SEIC — neither is this asset. No macro input here.