Range High Deviation → Expecting Breakdown to the Downside

Price has been trading in a clear horizontal range for an extended period, with well-defined support and resistance. Recently, the market made a strong deviation above the range high, which was quickly rejected — a classic liquidity grab / false breakout.

After the upper deviation failed, price returned back into the range, indicating weak bullish continuation and increasing probability of a range breakdown to the downside.

📌 Key points:

• Well-established consolidation range
  
• Upper deviation swept liquidity above resistance
  
• Rejection signals distribution and bearish continuation
  

🎯 Targets:
Target 1: $0.007
Target 2: $0.005
❌ Invalidation:
Acceptance back above the range high would invalidate the bearish scenario
This setup favors short positions after confirmation of weakness near range resistance.