XMR: liquidity sweep before bearish moveXMRUSDT Perpetual ContractBYBIT:XMRUSDT.P3CommasThe Macro Picture 🗺️ XMR is unwinding a textbook Broadening Formation — both extremes have been swept in the span of two weeks. The mid-June spike to $435 grabbed breakout-long liquidity above the May $425 ceiling, while the earlier $295 wick had already cleared the longs sitting under the prior box floor. With both sides of the volatility playground tagged, the structure is now bleeding back from the upper edge toward the lower boundary. RSI has slid from 70 down to the mid-40s with no buyer defense materializing, and the $285 macro floor remains untested by a daily close — leaving the downside path largely unblocked. The Setup ⚙️ The Liquidity Grab: The single-candle spike to $435 swept the over-leveraged longs layered above the May high and was rejected the same session. This is the kind of wick that marks distribution, not continuation — and price has bled steadily since, confirming the level as a structural peak rather than a breakout. The Rejection: The $390 prior support flip is now defended firmly as overhead resistance. Every bounce attempt since the spike has stalled beneath it, painting a clean sequence of lower highs that compresses price into the lower half of the broadening structure. The Reaction: RSI has rolled to the mid-40s with momentum visibly draining and no bullish divergence in sight. As indicated by the white projection, the roadmap points toward a short-term chop near current levels followed by a clean breakdown leg into the swept floor. The Roadmap: Primary target sits at $310 — the prior box floor that bulls failed to defend on the first sweep and the most obvious magnet on the downside. Invalidation: a sustained 1D close back above $390 would invalidate this bearish thesis and re-open the path toward the $425–$435 upper liquidity zone.