Many retail traders see $SNDK has fallen quite a bit and rush to buy the dip, thinking they’ve picked the bottom. In reality, this is just a pause in the decline—the main bearish leg is not over yet.
Look at the candlestick chart: from the high of 1733, prices have moved steadily lower. All the moving averages are pressing down in a bearish alignment, the highs keep getting lower, and the lows keep making new lows. The overnight session plunged more than 7%, with almost no resistance from buyers. Even small rebounds were sold off. This is a textbook downtrend. Bearish pressure in the order book continues to build, while retail traders keep entering to buy the dip along the way down. Those long positions will eventually add to the selling pressure.@老周抓趋势
#合约带单
My approach: build short positions in stages. I tried a 75x short near 1343, then added to my short at 1337 with 30x leverage. I held on to the shorts I entered at 1475 and 1341 despite brief unrealized losses, because the trend hasn’t reversed. The rebound was only a brief correction, not a bottom.@币安广场
Even if there’s a small rebound, it’s just a breather in the decline, not a reversal. The key resistance zone above is 1390–1405. As long as the price can’t break above it, the bearish outlook remains unchanged. The first target for this move is 1280, with a final target of 1200. If the price rebounds to the resistance zone, you can add to your shorts. Don’t try to guess the bottom and go long based on gut instinct.#SNDK
High leverage means high volatility. Remember to set stop-losses, and don’t stubbornly hold losing positions. We’ll share updates on key levels and take-profit and position-building plans in the group.#SNDKUSDT
Look at the candlestick chart: from the high of 1733, prices have moved steadily lower. All the moving averages are pressing down in a bearish alignment, the highs keep getting lower, and the lows keep making new lows. The overnight session plunged more than 7%, with almost no resistance from buyers. Even small rebounds were sold off. This is a textbook downtrend. Bearish pressure in the order book continues to build, while retail traders keep entering to buy the dip along the way down. Those long positions will eventually add to the selling pressure.@老周抓趋势
#合约带单
My approach: build short positions in stages. I tried a 75x short near 1343, then added to my short at 1337 with 30x leverage. I held on to the shorts I entered at 1475 and 1341 despite brief unrealized losses, because the trend hasn’t reversed. The rebound was only a brief correction, not a bottom.@币安广场
Even if there’s a small rebound, it’s just a breather in the decline, not a reversal. The key resistance zone above is 1390–1405. As long as the price can’t break above it, the bearish outlook remains unchanged. The first target for this move is 1280, with a final target of 1200. If the price rebounds to the resistance zone, you can add to your shorts. Don’t try to guess the bottom and go long based on gut instinct.#SNDK
High leverage means high volatility. Remember to set stop-losses, and don’t stubbornly hold losing positions. We’ll share updates on key levels and take-profit and position-building plans in the group.#SNDKUSDT