$SNDK — BOUNCE IS FACING RESISTANCE, BEARS STILL HAVE THE EDGE
$SNDK | 1H MARKET STRUCTURE
Price is currently around $1,594 after bouncing from the recent $1,581 area. However, the broader 1H structure still looks weak, with price struggling to reclaim the $1,604–$1,615 resistance zone.
If sellers defend this area and price loses the recent bounce, downside pressure could return toward the previous support.
SHORT SETUP
EP: $1,595–$1,604
TP1: $1,588
TP2: $1,581
TP3: $1,570
SL: $1,616
WHY THIS SETUP?
The key area is the repeated rejection around $1,604. Buyers have managed to bounce from $1,581, but the recovery has not yet changed the overall 1H structure.
A rejection from resistance followed by a move below the recent bounce zone would strengthen the bearish setup.
A strong move and hold above $1,616 would weaken the short idea and indicate improving buyer strength.
$SNDK remains under pressure while below the resistance zone. Wait for confirmation instead of chasing the move.
$SNDK | 1H MARKET STRUCTURE
Price is currently around $1,594 after bouncing from the recent $1,581 area. However, the broader 1H structure still looks weak, with price struggling to reclaim the $1,604–$1,615 resistance zone.
If sellers defend this area and price loses the recent bounce, downside pressure could return toward the previous support.
SHORT SETUP
EP: $1,595–$1,604
TP1: $1,588
TP2: $1,581
TP3: $1,570
SL: $1,616
WHY THIS SETUP?
The key area is the repeated rejection around $1,604. Buyers have managed to bounce from $1,581, but the recovery has not yet changed the overall 1H structure.
A rejection from resistance followed by a move below the recent bounce zone would strengthen the bearish setup.
A strong move and hold above $1,616 would weaken the short idea and indicate improving buyer strength.
$SNDK remains under pressure while below the resistance zone. Wait for confirmation instead of chasing the move.
