Feb. 3 at 2:15 PM
$IPW (15m): Price remains below equilibrium (~4.8) and under the declining MA ribbon, keeping structure bearish despite the recent bounce; the sharp spike into ~5.6–6.0 supply was aggressively sold, reinforcing overhead resistance.
No visible Elliott Wave count on the current leg, so this is best treated as a corrective bounce within a broader downtrend.
Momentum is weak-to-neutral—RSI failing to hold above the midline and rolling over—suggesting limited upside follow-through. Alpha case: continued acceptance below 4.0 targets the 3.6–3.7 demand zone (weak low risk).
Beta case: a reclaim and hold above 4.8–5.0 could extend a relief move toward 5.4–5.6, but that area is likely supply unless momentum meaningfully improves.
