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$INIT trying a bullish breakout right now – volatility picking up big time after that 17.4% rally today.
*Volume exploded to 153M on the run-up (way above the usual ~30M average), so this feels like real buying, not just noise. Volume profile also shows some nice accumulation down in the lower ranges lately.
*Capital flows are mixed but interesting: Contracts seeing solid net inflows (+585k in 24h) – leveraged guys are piling in and driving the momentum. Spot on the other hand is outflowing (-393k), looks like some sellers finally letting go.
*My plan
$INIT : Cautious long, treating it as a momentum play.
- Entry: around 0.0878 if you're feeling it.
- Better spot: pullback to 0.0842–0.0850 – that'd be testing the Bollinger middle band nicely.
- Stop-loss: 0.0813 – gives room for the noise but keeps risk in check.
- Targets
$INIT : Primary 0.0967 (Bollinger upper) for ~10% upside, secondary 0.1012 (R1 resistance) for ~15% if it keeps running.
*Quick heads up: That long wick up to 0.1031 today shows resistance overhead, so don't get too greedy. ATR's around 0.008, so the 3.5% stop should handle the swings without getting stopped out too early.
#INIT #initusdt #Initia