$INIT 5 minutes K-line directly exposes the main force's killing intent
The price was pressured from 0.8790 down to 0.8470 by the 10-day moving average, forming a standard bearish alignment with seven consecutive daily declines. Key data correction: On-chain monitoring shows that three whale addresses transferred only 110.9k INIT to exchanges at 3 AM. However, combined with the selling pressure of MA(10) trading volume of 1,431,906, it indicates that the downward trend is caused by retail investors being forced to sell in a panic. The order book data hides devilish details: below 0.8470, there are 2000+ sell orders at every 5-point interval, but hidden in the order queue are iceberg orders of over 5000 lots, clearly indicating the main force's intent to suppress and accumulate.
The contract market has become a death trap, with 10.00M liquidation orders piled up in the 0.8354-0.84 range, and 5.00M stop-loss orders lurking below 0.83. The liquidation heatmap shows that there are 8.5M short profit-taking orders in the 0.81-0.82 range, which means that the market makers have enough momentum to break through 0.8354 and trigger the liquidation of long positions, using programmed orders to crash down to near 0.81. Technically, there is a double blow: the 4-hour chart MACD has crossed downwards below the zero axis a second time, and the RSI value is 28 but has not entered the oversold zone, indicating that the downward momentum has only been released 60%.
The news is bearish, as the project party has suspended ecological construction, leading to INIT losing narrative support.
Watch closely for two signals: if it breaks below 0.8354 with increased volume, wait for a 15-minute K-line to show a long lower shadow before attempting to rebound; if it rebounds and breaks through 0.8790 and stabilizes for 2 hours, it is advisable to try a small long position.
Currently, all rebounds are traps to lure longs, especially beware of false breakouts in the 0.84-0.85 range—order book data shows there are hidden sell orders here that are three times the usual amount.
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