The BTC strategy setup shared earlier played out as expected, and we locked in solid gains on this move. Despite the appearance of increased volume, I’m actually more cautious about this rebound in $SOXL . On the four-hour chart, volume hasn’t expanded in step with price, suggesting the upward momentum is weak—it looks more like short covering than genuine buyers stepping in.
The 117–123 range above is a previous high-volume trading zone, where the rebound could face selling pressure. Structurally, the highs keep moving lower, and the moving averages are still weighing on price. I see this recovery as a potential shorting opportunity rather than a trend reversal. If the rally loses steam, a pullback to test the downside is the more likely path. Place the stop-loss above the range to manage risk.
🔴 Trade direction: Short
📍 Entry range: 116.99 – 122.99
🛑 Stop-loss: 124.99
🎯 Take-profit 1: 113.99
🎯 Take-profit 2: 109.99
Take in the vastness of mountains and seas; observe the market’s every detail.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#SOXL
Click below to trade 👇
The 117–123 range above is a previous high-volume trading zone, where the rebound could face selling pressure. Structurally, the highs keep moving lower, and the moving averages are still weighing on price. I see this recovery as a potential shorting opportunity rather than a trend reversal. If the rally loses steam, a pullback to test the downside is the more likely path. Place the stop-loss above the range to manage risk.
🔴 Trade direction: Short
📍 Entry range: 116.99 – 122.99
🛑 Stop-loss: 124.99
🎯 Take-profit 1: 113.99
🎯 Take-profit 2: 109.99
Take in the vastness of mountains and seas; observe the market’s every detail.
Trade alongside Uncle Xiong, and witness the gains and losses of the world.
#SOXL
Click below to trade 👇