Smart money is aggressively building short positions near the local resistance to push the floor lower.
I am looking at the 1-hour trend for $BILL and the structure is showing clear signs of weakness. The price keeps rejecting the overhead resistance, and sellers are beginning to take total control of the order flow. I noticed that momentum is slowing down heavily as trapped buyers fail to sustain the higher levels.
My trade plan is to ride with this bearish movement and look for a short entry within the recent breakdown zone. The market structure remains bearish as long as the price stays below the invalidation level. I am watching the lower areas because a break below the local support floor will likely accelerate the selling toward deep liquidity pools.
I am planning to execute this short setup with a strictly calculated risk-to-reward strategy to keep my risk controlled. If the price manages to climb back up and close above our recent high, my current trade plan is invalid. Otherwise, I expect the market to slide down steadily toward our key targets.
Trade Plan:
Entry: 0.1385
Stop Loss: 0.1475
Take Profit 1: 0.1295
Take Profit 2: 0.1205
