WIF · 1H · DOWNTREND
Price has been in a clean structural downtrend since the July 25 spike to 0.1620, printing lower highs and lower lows on every meaningful rally attempt. The most recent sequence shows price grinding from 0.1480 down through 0.1420, 0.1400, and now sitting at 0.1370 — each bounce has been sold into hard. I'm not looking for longs here. The structure is bearish, the momentum is bearish, and every attempted recovery over the past two weeks has failed to reclaim any meaningful resistance level. I'm short-biased and waiting for the next failed bounce to confirm continuation — I'm not chasing this at current lows, I want a rejection from structure before adding.
SHORT SCENARIO
Confirmation
0.1400
Rejection at 0.1400–0.1410 with a close back below 0.1390 confirms bearish continuation — that zone has acted as both support-turned-resistance and where recent bounces have stalled.
Invalidation
0.1460
Structure invalidated above 0.1460, which marks the most recent significant lower high from late July/early August.
Target 1
0.1340
Near-term structural extension and visible low from recent price action.
Target 2
0.1300
Next clean round-level support below current structure.
Risk/Reward
(0.1390 − 0.1340) / (0.1460 − 0.1390) = 0.0050 / 0.0070 ≈ 0.7:1 to T1 / improves to ~1.3:1 toward T2
Resistance: 0.1400–0.1410 / 0.1460
Support: 0.1340 / 0.1300
This is not financial advice. Content is AI-generated.