SNDK—don’t be fooled by this 4-hour consolidation. The daily trend is clearly DOWN: price is stuck below the MA20 and MA50, and the rebound ran out of steam at 1649. This is a classic breakdown retest. Most importantly, open interest in futures contracts fell 21.7% in a day, the funding rate dropped straight to zero, and aggressive sell orders made up 54.4%. If the bulls aren’t even willing to pay the funding, what’s going to support the price? Short at the current price of 1622, with a first target of 1541 and a stop-loss at 1691—max out the risk-reward ratio. Anyone still going long in a market like this is going to regret it.