$SNXX USDT — Double top formed; rebound meets resistance, bearish bias
Current price: 9.62. After reaching 12.0, the price has fallen steadily. Each rebound has been weaker than the last, while recent highs and lows have both moved lower, clearly signaling a daily-chart correction. Volume contracts during rebounds and expands during declines, indicating clear signs of capital outflows. The 10.0–10.15 range above is short-term resistance; under this pressure, a pullback is the preferred scenario.
Direction: Short
Entry: 9.75–9.85
Take profit 1: 9.50・Take profit 2: 9.20・Take profit 3: 8.90
Stop loss: 10.05
Reason: The overall trend is weak, and a rebound for recovery does not change the downtrend. Do not mistake a low-volume rebound for a reversal. Only a sustained move above the stop-loss level would change the short-term bearish outlook. Manage position size strictly and always use a stop loss. #Binance
Current price: 9.62. After reaching 12.0, the price has fallen steadily. Each rebound has been weaker than the last, while recent highs and lows have both moved lower, clearly signaling a daily-chart correction. Volume contracts during rebounds and expands during declines, indicating clear signs of capital outflows. The 10.0–10.15 range above is short-term resistance; under this pressure, a pullback is the preferred scenario.
Direction: Short
Entry: 9.75–9.85
Take profit 1: 9.50・Take profit 2: 9.20・Take profit 3: 8.90
Stop loss: 10.05
Reason: The overall trend is weak, and a rebound for recovery does not change the downtrend. Do not mistake a low-volume rebound for a reversal. Only a sustained move above the stop-loss level would change the short-term bearish outlook. Manage position size strictly and always use a stop loss. #Binance