HYPE - Falling Channel Bounce into $50.5 Supply

[theSignalyst]

HYPE has been sliding on the 1H inside a falling channel. After a sharp wick into the 47–48 demand area, price is bouncing toward the 49.8–50.5 supply block (prior breakdown + channel mid/upper zone).

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This area is key . If sellers defend 50–50.5, I’ll look for rejection shorts back toward 48.2, then 46.8–46.0 at the channel floor. A clean 1H break and hold above 50.5 would flip momentum for a relief leg into 52.0, then 54–55.

What’s your plan — fade 50.5 for a continuation short, or wait for a reclaim to ride a squeeze higher?

️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.

Stick to your trading plan regarding entries, risk, and management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr

[TradingPuzzles]

Well explained my friend. I agree with you!