The structure on $SOPH has changed enough to put this setup on my watchlist.
What stands out here is that volume is running about 8.2x its recent pace, the 1H move is +3.95%, and open interest is up 4.7%. That gives the move real context instead of treating every candle as a signal.
The multi-timeframe read is leaning bearish, and the current 1h structure agrees. That keeps the advantage with sellers for now.
The area around $0.003337 is the level I would watch next. Losing it cleanly would strengthen the bearish case; holding it would warn against pressing shorts too late.
How would you manage this $SOPH setup from here?
#SOPH #Trading
Trade plan: SHORT
Entry: $0.004075
SL: $0.004977
TP1: $0.003173
TP2: $0.002271
TP3: $0.00137
What stands out here is that volume is running about 8.2x its recent pace, the 1H move is +3.95%, and open interest is up 4.7%. That gives the move real context instead of treating every candle as a signal.
The multi-timeframe read is leaning bearish, and the current 1h structure agrees. That keeps the advantage with sellers for now.
The area around $0.003337 is the level I would watch next. Losing it cleanly would strengthen the bearish case; holding it would warn against pressing shorts too late.
How would you manage this $SOPH setup from here?
#SOPH #Trading
Trade plan: SHORT
Entry: $0.004075
SL: $0.004977
TP1: $0.003173
TP2: $0.002271
TP3: $0.00137
