$NMR 2.5x volume hits during the 2.7% drop — but the 1h structure remains firmly broken to the downside
My 1h bias stays bearish. Price is sitting around the latest swing low at 10.88 after the sell burst, while the chart continues to print lower highs and lower lows. Declining OI and seller-dominant taker flow add weight to the distribution read rather than signaling a clean panic flush and reversal.
This short setup is counter-trend against the bullish daily structure and BTC, so confirmation is essential. I do not want to chase the 15m dump.
First, I’m watching for a liquidity sweep of 10.88. If that level fails to hold, downside targets come into focus at 10.00, 9.71, and eventually the 9.39–8.82 demand cluster.
Short entry zone: 11.00–11.14 on a reclaim failure or clear rejection. I want a 5–15m bearish engulfing candle or market-structure shift lower before entering.
Take-profits: 10.00 → 9.71 → 9.39
Protection belongs beyond the structure flip rather than at an arbitrary fixed stop.
Invalidation: A 1h close above 11.52 flips the current bearish read bullish, so I would stand aside.
Flow: OI $6.5M (-8.5% 24h) · Funding -0.0117% · Taker 0.69x
As long as 1h closes remain below 11.52, the bearish structure remains active. The key is confirmation on the retest, not chasing the breakdown.
Not investment advice. Educational report only.
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