Accumulation and divergence are moving in sync, and the market structure of $SNDK is flashing bearish signals. The daily price is below both moving averages, while the four-hour and one-hour charts are weakening in tandem. With all three timeframes pointing in the same direction, this kind of rebound looks more like an opportunity for bears to establish positions. The one-hour RSI is on the warm side, suggesting short-term buyers still have some strength. That very divergence makes me more inclined to wait for the price to return to the upper range before considering a trade, rather than chase the downward move.
At key levels, the rebound is weak and volume isn’t keeping up, making further downside more likely. Keep your position size small, and don’t mistake a rebound for a reversal.
🔴 Trade direction: Short
📍 Entry range: 1119.35750 – 1125.83063
🛑 Stop loss: 1191.35090
🎯 Take profit 1: 1071.02643
🎯 Take profit 2: 1036.64802
🎯 Take profit 3: 985.08039
Take in the vastness of mountains and seas; observe the market’s finest details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#SNDK
Click below to trade 👇
At key levels, the rebound is weak and volume isn’t keeping up, making further downside more likely. Keep your position size small, and don’t mistake a rebound for a reversal.
🔴 Trade direction: Short
📍 Entry range: 1119.35750 – 1125.83063
🛑 Stop loss: 1191.35090
🎯 Take profit 1: 1071.02643
🎯 Take profit 2: 1036.64802
🎯 Take profit 3: 985.08039
Take in the vastness of mountains and seas; observe the market’s finest details.
Trade alongside Uncle Xiong and witness the gains and losses of the world.
#SNDK
Click below to trade 👇