IP: catching a knife or waiting for bounce? key levels ahead🎯💫

IP
Catching this knife or letting it bounce first? While majors are chilling after the latest volatility spike, small caps like IP are quietly building bases - according to market chatter, leverage in alts has been flushed and fresh spot buyers are creeping back in. On 4H we’ve got a long bleed, capitulation wick and now a flat shelf right on a strong demand zone around 1.10.
On the 4H chart price hugs that green support with declining sell volume, and the volume profile shows a fat liquidity zone sitting higher around 1.35-1.50. RSI has recovered from oversold and is grinding under 50 - classic early accumulation vibe rather than full trend reversal. I’m leaning long, looking for a mean-reversion pop into the first supply block once price finally punches through this micro range.
My base case ✅ bounce toward 1.35 then possibly 1.50 if momentum heats up and we see a clean 4H close above the local highs of this range. Aggressive traders can stalk longs in this demand area, conservative ones might wait for a breakout and retest from above. If 1.10 gives way with volume, the idea flips and we can easily slide to new lows - I might be wrong, but below that level I’d step aside and let the knife fall without me.$IP ‌