Oh my, SKHYNIX finally moved upward. Now it’s around 1042u. It ground for more than a week hovering in the low 1000s, sideways; today it genuinely lifted by a noticeable chunk—up nearly 6 points in 24 hours.
First, the order book: this time it’s real money propping up from underneath. The depth of the spot buy orders is about double that of the sell orders. The bid-ask spread is thin as paper. And one day’s spot trading has already hit the 1.6 billion RMB scale—this kind of staying power doesn’t look like pure leveraged “hot air.” There’s real cash catching it.
The trend also lines up. Price is holding above both 15-minute moving averages; on the 4-hour chart there are five consecutive bullish candles, pushing up while pressing forward; and on the daily chart it’s trending upward with another upward candle. If we’re talking direction, the bulls really do have the advantage.
But the issue is this: the driving force pushing price higher is fading. On the futures side, the proportion of aggressive buying has dropped to 46%, and aggressive selling is even higher than aggressive buying. Whale accounts are still supporting the bulls, but over the past few hours they’ve been steadily reducing positions. Translation: price is going up, but the most aggressive capital is quietly pulling back.
So my stance—bias is bullish, there’s a chance, but I won’t chase at this level. The order book is healthy and the trend upward is solid, but that strongest push is retreating. If you rush in now, you’d be taking the final shove.
What I’ll do: wait for a pullback, then go in only after it holds steady—much more comfortable than chasing from the current 1042 level.
#skhynix $SKHYNIX
First, the order book: this time it’s real money propping up from underneath. The depth of the spot buy orders is about double that of the sell orders. The bid-ask spread is thin as paper. And one day’s spot trading has already hit the 1.6 billion RMB scale—this kind of staying power doesn’t look like pure leveraged “hot air.” There’s real cash catching it.
The trend also lines up. Price is holding above both 15-minute moving averages; on the 4-hour chart there are five consecutive bullish candles, pushing up while pressing forward; and on the daily chart it’s trending upward with another upward candle. If we’re talking direction, the bulls really do have the advantage.
But the issue is this: the driving force pushing price higher is fading. On the futures side, the proportion of aggressive buying has dropped to 46%, and aggressive selling is even higher than aggressive buying. Whale accounts are still supporting the bulls, but over the past few hours they’ve been steadily reducing positions. Translation: price is going up, but the most aggressive capital is quietly pulling back.
So my stance—bias is bullish, there’s a chance, but I won’t chase at this level. The order book is healthy and the trend upward is solid, but that strongest push is retreating. If you rush in now, you’d be taking the final shove.
What I’ll do: wait for a pullback, then go in only after it holds steady—much more comfortable than chasing from the current 1042 level.
#skhynix $SKHYNIX