SOL · 1H · DOWNTREND

Price has been in a clear downtrend since mid-May, dropping from the ~88-90 zone all the way to the ~62-63 lows in early June — that's a brutal multi-week selloff with consistent lower highs and lower lows. The recent bounce from ~63 up to ~76 is sharp and fast, but I'm reading it as a relief rally into overhead supply, not a trend reversal. Price is now sitting at ~73.88, right in the middle of a significant supply zone between 74-76 that was the base of the breakdown in early June. The structure is still bearish until I see a confirmed close above 78+, and I'm not giving it that benefit yet.

I'm treating this rally as a shorting opportunity, not a breakout to chase long. The bounce has been violent — over 20% from the lows in roughly a week — and price is now pressing into the underside of prior consolidation around 74-76. That's exactly where sellers who got caught in the drop are waiting to offload. The news context offers no fundamental catalyst strong enough to reverse the macro downtrend structure — a Toobit yield promotion isn't moving the needle. My read is that this is a dead-cat bounce into resistance, and I'm looking to get short on the rejection.

Setup: SHORT (conditional — on rejection at 75-76 resistance zone)

- Entry: 75.50

- Stop Loss: 77.50

- Take Profit 1: 70.00

- Take Profit 2: 65.00

- Risk/Reward: 2.8:1

- Confidence: MEDIUM