SKHY is currently near 163.6u, and I won’t make a move at this position.
The price is still grinding within the range of 161 to 168. The recent highs and lows are basically unchanged; it’s now stuck in the middle. The MA20 and MA50 are sticking together, and the four-hour trend indicator shows sideways consolidation. On the daily chart, it’s still slightly hanging downward, but the short-term trend has already leveled off. It’s not strong, not weak—just a typical “waiting for the wheel to turn” market.
The key is capital. Contract open interest has shrunk by nearly another 10% in a day—like I mentioned in the previous post, open interest has been contracting, and this time it hasn’t stopped. The price hasn’t fallen much, but positions keep being withdrawn, which suggests the market doesn’t plan to place heavy bets at this level. Active trades over the past 7 hours dropped by more than 40%. Sell orders are still pressing against buy orders, and the short-term buy-side support looks a bit flimsy.
Look at the big players too: the number of accounts is moving more toward the long side, but the proportion of long positions is actually declining—both sets of data are fighting each other. For spot, net inflow from large orders is still zero. There’s no sign of any real-money entry—no clear action at all. With this combination, I can’t read either strong longs or strong shorts. It feels more like everyone is waiting.
Plainly put: if you chase longs now, the resistance at 168 hasn’t been broken; if you chase shorts, the support at 161 hasn’t been breached. As long as the range holds, whichever side you pursue tends to get chopped up by volatility.
My choice: hold off and let the price decide the direction on its own. If it breaks above 168 with volume, then we follow. If it breaks below 161, then we’ll see whether there’s capital stepping in. Until it actually makes it through that step, this is simply a spectator spot.
#skhy $SKHY
The price is still grinding within the range of 161 to 168. The recent highs and lows are basically unchanged; it’s now stuck in the middle. The MA20 and MA50 are sticking together, and the four-hour trend indicator shows sideways consolidation. On the daily chart, it’s still slightly hanging downward, but the short-term trend has already leveled off. It’s not strong, not weak—just a typical “waiting for the wheel to turn” market.
The key is capital. Contract open interest has shrunk by nearly another 10% in a day—like I mentioned in the previous post, open interest has been contracting, and this time it hasn’t stopped. The price hasn’t fallen much, but positions keep being withdrawn, which suggests the market doesn’t plan to place heavy bets at this level. Active trades over the past 7 hours dropped by more than 40%. Sell orders are still pressing against buy orders, and the short-term buy-side support looks a bit flimsy.
Look at the big players too: the number of accounts is moving more toward the long side, but the proportion of long positions is actually declining—both sets of data are fighting each other. For spot, net inflow from large orders is still zero. There’s no sign of any real-money entry—no clear action at all. With this combination, I can’t read either strong longs or strong shorts. It feels more like everyone is waiting.
Plainly put: if you chase longs now, the resistance at 168 hasn’t been broken; if you chase shorts, the support at 161 hasn’t been breached. As long as the range holds, whichever side you pursue tends to get chopped up by volatility.
My choice: hold off and let the price decide the direction on its own. If it breaks above 168 with volume, then we follow. If it breaks below 161, then we’ll see whether there’s capital stepping in. Until it actually makes it through that step, this is simply a spectator spot.
#skhy $SKHY