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Relief Bounce Over? Why the Bias is Shifting Bearish ๐ป
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$ENA has completed its expected relief bounce, but the bulls are struggling to reclaim the previous structure. What looked like a recovery is now showing signs of a liquidity grab rather than genuine buying strength.
โ๐ Technical Breakdown
โStructure Failure: After a sharp sell-off,
$ENA is consolidating just below prior support. In technical terms, old support is now acting as a heavy resistance ceilingโa classic "bearish continuation" pattern.
โLiquidity Hunt: The recent move upward appears to have been designed to hunt stop losses before the next leg down.
โBearish Capping: As long as price remains trapped below the recent range high, the downside pressure is active. We are looking for a test of deeper demand zones.
โโก The Short Setup (Perp)
โ๐ฏ Entry Zone: 0.173 โ 0.178 (Selling into resistance)
๐ฐ Take Profit 1: 0.168
๐ฐ Take Profit 2: 0.162
๐ฐ Take Profit 3: 0.155
๐ Stop Loss: 0.186 (Invalidation if structure is reclaimed)
โStrategy: The bias stays firmly bearish unless
$ENA can reclaim and hold above the range high. Stay disciplined and watch for volume expansion on the breakdown! ๐๐ฅ
โโ๏ธ Written by: Nabiha Noor
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