The real opportunity often lies hidden behind the traps most people misread. $SPCX On the hourly chart, price has stayed firmly below the cluster of moving averages. The rebound failed to reclaim even the EMA50, making each push higher in this structure look more like a bull trap than a reversal. Sellers have the upper hand in the short term, momentum indicators point to further downside, and there is no volume evidence of buyers stepping in.
The band of moving averages overhead is clear resistance, and the closer the rebound gets to this area, the more closely selling pressure should be watched. I view the rebound as an opportunity to position, not a reason to chase longs. Until the structure is broken, the path lower looks smoother. Keep positions light and leave room for error.
🔴 Trade direction: Short
📍 Entry range: 145.74244 – 145.99872
🛑 Stop loss: 149.37788
🎯 Take profit 1: 143.24011
🎯 Take profit 2: 141.48646
🎯 Take profit 3: 138.85599
Take in the vastness of mountains and seas; observe the market’s finer details.
Join Uncle Xiong, and witness the ebb and flow of gains and losses.
#SPCX
Click below to trade 👇
The band of moving averages overhead is clear resistance, and the closer the rebound gets to this area, the more closely selling pressure should be watched. I view the rebound as an opportunity to position, not a reason to chase longs. Until the structure is broken, the path lower looks smoother. Keep positions light and leave room for error.
🔴 Trade direction: Short
📍 Entry range: 145.74244 – 145.99872
🛑 Stop loss: 149.37788
🎯 Take profit 1: 143.24011
🎯 Take profit 2: 141.48646
🎯 Take profit 3: 138.85599
Take in the vastness of mountains and seas; observe the market’s finer details.
Join Uncle Xiong, and witness the ebb and flow of gains and losses.
#SPCX
Click below to trade 👇