$IREN just printed its heaviest volume in weeks after a deep markdown. I lean long, not at this price. I'm waiting for a quieter retest of that low. The catch: earnings already lifted it premarket, so the retest may never come. Context: it's down more than 60% from the peak in two months, with a sharp break to a 52-week low. Post-close results beat on revenue. Every timeframe is still in a downtrend. Why that low matters: - Record capitulation volume landed at the end of the markdown - Daily RSI and MACD made higher lows while price made a lower one - The same zone held price for over a month last summer Three independent reads pointing at one area is the point. Wyckoff view: this is a selling climax candidate, not a confirmed one. The close sat near the day's low and there's no automatic rally yet. The buy is the secondary test: volume drying up on a revisit of the low, or a brief spring below it that snaps back. Where I'm wrong: if the retest breaks the low on bigger volume than the climax and the daily closes below it, this is continued markdown, not a bottom. Risks: tonight's US jobs data can swing it 10%+. A delayed target and open funding may cap the bounce. Published by YTIlab · OMNISIGHT REPORT Not investment advice. All decisions and responsibility are your own.