SKHY is now around 135.6. I’ll observe this spot for now.
The price trend is actually weakening. In the past 24 hours it’s down more than three points. MA20 and MA50 are both pressing down overhead. The 4-hour and daily directions are both downward, and I haven’t seen any sign in the short term that it’s going to bounce back.
But what’s interesting is that the order book is contradicting the price. The contract’s active buy orders account for nearly seventy percent, and over the next 7 hours they also added more than double—plus the whales’ long position share is also being pushed higher. In other words, someone is trying to catch it at a low level.
The problem is that spot trading isn’t cooperating. Buy depth is thinner than sell depth, and large-lot spot net inflows are basically neutral-to-negative, which suggests this level is being propped up mainly by the contracts—spot hasn’t truly taken the ball.
Simply put: the contracts are testing the market, but spot hasn’t stated its position. In an order book where the data conflicts like this, chasing longs or bottom-fishing has mediocre risk-reward. I’ll wait for it to show a clearer direction.
The key is whether spot funding can keep up—if the low holds steady, we can reassess. I’m not in a hurry to jump in now.
#skhy $SKHY
The price trend is actually weakening. In the past 24 hours it’s down more than three points. MA20 and MA50 are both pressing down overhead. The 4-hour and daily directions are both downward, and I haven’t seen any sign in the short term that it’s going to bounce back.
But what’s interesting is that the order book is contradicting the price. The contract’s active buy orders account for nearly seventy percent, and over the next 7 hours they also added more than double—plus the whales’ long position share is also being pushed higher. In other words, someone is trying to catch it at a low level.
The problem is that spot trading isn’t cooperating. Buy depth is thinner than sell depth, and large-lot spot net inflows are basically neutral-to-negative, which suggests this level is being propped up mainly by the contracts—spot hasn’t truly taken the ball.
Simply put: the contracts are testing the market, but spot hasn’t stated its position. In an order book where the data conflicts like this, chasing longs or bottom-fishing has mediocre risk-reward. I’ll wait for it to show a clearer direction.
The key is whether spot funding can keep up—if the low holds steady, we can reassess. I’m not in a hurry to jump in now.
#skhy $SKHY