Has the downtrend in Hynix ended? Is the market about to rebound? 🤔🤔
The short positions I set up yesterday at $SNDK and $SKHYNIX were already validated by last night's market swings. I just couldn't be bothered to write a post 😅😅
Don't rush into setting up a trade on Hynix today, guys. Listen to my detailed analysis 👇👇
Looking at the chart, the bearish trend hasn't changed at all. The MACD is recovering from a low, and bears are taking profits. So this isn't because buying pressure is especially strong, nor does it mean the fundamentals have reversed.
The market has been stuck moving sideways around 960. It has just touched the 30-day moving average, while the 7-day moving average near 966 is the first resistance level. Above that, the 980–1000 range is a previous congestion zone where many positions are underwater. If the price rebounds to this area, breakeven sellers and new short positions will likely emerge in force. Selling pressure overhead will only intensify, making a clean breakout unlikely. Support is around 935, the platform from which the rebound began. If that level holds, the price could continue moving sideways in the short term. But if it breaks decisively, the market could fall further, toward 925.
Trading suggestions:
Aggressive traders can open an initial short position at the current price and add to it on a rebound. More conservative traders can wait for the price to rebound to around 970 and show resistance before entering a short position, with a stop-loss above 1000. First take-profit target: 930; if that level breaks, look to 920.
Those are my thoughts and trading suggestions for Hynix. If anything is unclear, come find me in my chatroom!
#美国9月PPI年率升至6.3% #NEAR24小时涨近10% #澳大利亚提议加密交易申报法案 $MU
The short positions I set up yesterday at $SNDK and $SKHYNIX were already validated by last night's market swings. I just couldn't be bothered to write a post 😅😅
Don't rush into setting up a trade on Hynix today, guys. Listen to my detailed analysis 👇👇
Looking at the chart, the bearish trend hasn't changed at all. The MACD is recovering from a low, and bears are taking profits. So this isn't because buying pressure is especially strong, nor does it mean the fundamentals have reversed.
The market has been stuck moving sideways around 960. It has just touched the 30-day moving average, while the 7-day moving average near 966 is the first resistance level. Above that, the 980–1000 range is a previous congestion zone where many positions are underwater. If the price rebounds to this area, breakeven sellers and new short positions will likely emerge in force. Selling pressure overhead will only intensify, making a clean breakout unlikely. Support is around 935, the platform from which the rebound began. If that level holds, the price could continue moving sideways in the short term. But if it breaks decisively, the market could fall further, toward 925.
Trading suggestions:
Aggressive traders can open an initial short position at the current price and add to it on a rebound. More conservative traders can wait for the price to rebound to around 970 and show resistance before entering a short position, with a stop-loss above 1000. First take-profit target: 930; if that level breaks, look to 920.
Those are my thoughts and trading suggestions for Hynix. If anything is unclear, come find me in my chatroom!
#美国9月PPI年率升至6.3% #NEAR24小时涨近10% #澳大利亚提议加密交易申报法案 $MU