#SPCX Currently, there's absolutely no sign of a reversal! The short-term 7-day moving average is firmly pressing down on the price action. Every time the market manages to inch up a bit, it gets slammed back down as soon as it hits the 7-day line; we can't even get a decent little bounce out of it.
Looking at the upper 30-day moving average, it's like a heavy resistance hanging over the market. This moving average is consistently trending downward, which is a clear signal of mid-term capital fleeing. As long as the price can't hold above the 30-day moving average, the overall bearish trend won't change one bit.
Today, the SPCX market shows particularly weak characteristics, pretty much just oscillating around the 176 price level all day. The bulls have zero strength to hold the line; as soon as there's a slight upward pull, a wave of selling pressure floods in. Right now, hardly any funds are willing to catch the falling knife—it's just non-stop sell orders while buyers are sitting on the sidelines, afraid to step in. The continuous downward trend has already solidified.
At the current price of 176, it's a prime spot to open a short position; no need to wait around for a rebound to set your levels. Even if a small bounce occurs, as long as the price can't hold above the 190 resistance zone, every rebound is a perfect opportunity to add to your shorts—bounces are just the bears serving up great entry points.
The first key support below is the previous low at 160. Even if the 160 level temporarily holds up the price, it will only be a short-term consolidation, and the rebound potential is extremely limited. Our strategy remains to short on rallies. Real-time market strategies are continuously updated in the chat room: #伊朗原油降价 #摩根士丹利拟推0.14%费率ETH及SOLETF $SPCX
Looking at the upper 30-day moving average, it's like a heavy resistance hanging over the market. This moving average is consistently trending downward, which is a clear signal of mid-term capital fleeing. As long as the price can't hold above the 30-day moving average, the overall bearish trend won't change one bit.
Today, the SPCX market shows particularly weak characteristics, pretty much just oscillating around the 176 price level all day. The bulls have zero strength to hold the line; as soon as there's a slight upward pull, a wave of selling pressure floods in. Right now, hardly any funds are willing to catch the falling knife—it's just non-stop sell orders while buyers are sitting on the sidelines, afraid to step in. The continuous downward trend has already solidified.
At the current price of 176, it's a prime spot to open a short position; no need to wait around for a rebound to set your levels. Even if a small bounce occurs, as long as the price can't hold above the 190 resistance zone, every rebound is a perfect opportunity to add to your shorts—bounces are just the bears serving up great entry points.
The first key support below is the previous low at 160. Even if the 160 level temporarily holds up the price, it will only be a short-term consolidation, and the rebound potential is extremely limited. Our strategy remains to short on rallies. Real-time market strategies are continuously updated in the chat room: #伊朗原油降价 #摩根士丹利拟推0.14%费率ETH及SOLETF $SPCX
