$HYPE broke the low that launched its last rally, and my prior long is invalidated. I'm now short-biased. What I want: a bounce back into the zone where broken support, a 1h gap and the midpoint of the drop overlap. The catch: it's already deeply oversold. Context: the last push higher failed, and every bounce since has topped lower. Price now sits under all the short-term 4h moving averages. Why the short case stacks up: - The pivot that started the 12h uptrend gave way, so the structure flipped bearish. - 4h highs and lows keep stepping down. - Risk-off backdrop: a sharp Nasdaq drop, a crypto sell-off and a run of exchange hacks. Several unrelated levels landing in one zone is what makes it a sell area, not a guess. ICT view: old support should now act as resistance. Below, sell-side liquidity rests under recent lows and the daily range floor. That pool is the first magnet if the bounce gets rejected. Where I'm wrong: a move back above the most recent lower high ends the lower-high sequence, and I drop the idea. Risks: US jobs data tonight can swing everything. And if it keeps sliding without a bounce, the entry never fills. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.