SKHYNIX is around 1175u right now, moving right along the 24-hour high, but at this position I’m actually less urgent than before.
Let’s look at the side that looks better. In the last review, it was around 996u. Over the past few days it rebounded by about 18%, and both the 4-hour and daily lines have flipped back to green. In the spot order book, the 20-level bid side is thicker than the ask side by nearly half; the spread is as tight as one per mille. The support underneath is real—there are definitely people working it. Funding rate is still 0, and the futures market isn’t overheated either.
The problem is here: price is holding up against the whole day’s high, but on the futures side where trades are actively occurring, the bid proportion isn’t even below 42%—asks have been pressing down on bids. On the spot side, large-net inflows into this area basically haven’t moved; I haven’t seen incremental capital entering.
The whale positions’ long-to-short ratio has already been pushed above 2.2, and longs make up almost 70%. To put it plainly, the bulls aren’t lacking chips—the train is already pretty full. Pushing higher from here needs fresh money to take over.
So my stance is simple: I’m not looking to be bearish—I just don’t want to chase at this level. If you want to get on board, wait for a pullback to the 1166–1170 range and see whether anyone is taking it, or wait until it holds above 1178 and confirms with a volume expansion. Until then, let the bullets fly for a bit.
At this level, the long/short cost-effectiveness isn’t great. Let the market choose its direction on its own.
#skhynix $SKHYNIX
Let’s look at the side that looks better. In the last review, it was around 996u. Over the past few days it rebounded by about 18%, and both the 4-hour and daily lines have flipped back to green. In the spot order book, the 20-level bid side is thicker than the ask side by nearly half; the spread is as tight as one per mille. The support underneath is real—there are definitely people working it. Funding rate is still 0, and the futures market isn’t overheated either.
The problem is here: price is holding up against the whole day’s high, but on the futures side where trades are actively occurring, the bid proportion isn’t even below 42%—asks have been pressing down on bids. On the spot side, large-net inflows into this area basically haven’t moved; I haven’t seen incremental capital entering.
The whale positions’ long-to-short ratio has already been pushed above 2.2, and longs make up almost 70%. To put it plainly, the bulls aren’t lacking chips—the train is already pretty full. Pushing higher from here needs fresh money to take over.
So my stance is simple: I’m not looking to be bearish—I just don’t want to chase at this level. If you want to get on board, wait for a pullback to the 1166–1170 range and see whether anyone is taking it, or wait until it holds above 1178 and confirms with a volume expansion. Until then, let the bullets fly for a bit.
At this level, the long/short cost-effectiveness isn’t great. Let the market choose its direction on its own.
#skhynix $SKHYNIX