$SPCX stumbled upon a strong resistance near $152.19 and shows signs of buyer exhaustion — will the bears push the price below the EMA7 for a deep correction?
$SPCX - 🔴 SHORT · Conf 80%
Trading plan:
• Entry zone: 148.50 – 150.50
• SL: 153.20
• TP1: 145.50
• TP2: 142.50
• TP3: 139.00
Why this particular setup?
• Formation of a reversal pattern on the 1h chart after a failed attempt to hold above the local high of $152.19.
• Emergence of a large liquidation zone for longs below the $147.00–140.00 level on the heat map, acting as a magnet to clear stop orders.
• Declining volumes at the peak of the move, signaling the exhaustion of the bullish impulse and readiness to remove the accumulated lower liquidity.
• Clear risk-to-reward ratio with a protective stop at the new local high of $152.19.
Can sellers take control and send the price to a retest of the EMA25 and EMA99?
⚠️ Analysis for informational purposes only. NFA — manage your risk and DYOR.
$SPCX - 🔴 SHORT · Conf 80%
Trading plan:
• Entry zone: 148.50 – 150.50
• SL: 153.20
• TP1: 145.50
• TP2: 142.50
• TP3: 139.00
Why this particular setup?
• Formation of a reversal pattern on the 1h chart after a failed attempt to hold above the local high of $152.19.
• Emergence of a large liquidation zone for longs below the $147.00–140.00 level on the heat map, acting as a magnet to clear stop orders.
• Declining volumes at the peak of the move, signaling the exhaustion of the bullish impulse and readiness to remove the accumulated lower liquidity.
• Clear risk-to-reward ratio with a protective stop at the new local high of $152.19.
Can sellers take control and send the price to a retest of the EMA25 and EMA99?
⚠️ Analysis for informational purposes only. NFA — manage your risk and DYOR.
