META Losing Momentum—Bearish Structure Still in Control Dec. 30Meta Platforms, Inc.BATS:METABullBearInsightsMETA is currently trading around 656–657, and the chart is telling a clear story: this is not a balanced market. Sellers are still in control, and recent bounces remain corrective rather than trend-changing. 15-Min Price Action & Market Structure On the 15-min chart, META has already: * Printed a clear BOS to the downside * Failed multiple CHoCH attempts * Continued to respect a descending trend channel The latest bounce stalled exactly where it should — below descending resistance — and rolled back over. That’s classic bearish continuation behavior. Key intraday levels: * Resistance: 659.90 → 663.30 → 668.80 * Support: 654.40 → 650.00 → 647.50 As long as META stays below 660, upside attempts remain sell-the-rip, not breakout setups. GEX & Options Positioning (Why Upside Is Capped) From the GEX chart: * META is trading below the highest positive NetGEX / Call Wall near 665 * Dealers remain positioned in a way that caps upside and allows downside to travel * Heavy PUT support sits near 650, acting as a near-term magnet IV is elevated and call participation (~31%) is not strong enough to force a squeeze. This favors controlled downside or choppy drift lower, not aggressive upside expansion. Scenarios for Dec. 30 Bearish Continuation (Primary Scenario) If META: * Fails again below 660 * Shows rejection near 659–663 Then downside continuation targets: * 654.40 * 650.00 * 647.50 if selling accelerates This favors puts or short-biased scalps, especially on weak relief bounces. Bullish Reclaim (Lower Probability) If META: * Reclaims 660 * And holds above 663.30 on a 15-min close Then upside relief could extend to: * 668.80 * 672.00 However, without acceptance above 665–668, this would still be a counter-trend move, not a trend reversal. My Take META is still in distribution mode, not accumulation. Until price: * Breaks the descending structure * And reclaims key GEX resistance The path of least resistance remains down or sideways-to-down. This is not a chart to force longs. It’s a chart to wait for confirmation or fade failed bounces. This analysis reflects my personal opinion and is for educational purposes only. It does not constitute financial advice. Always manage your own risk.