The faster it rises, the more hesitant I am to touch it. Here’s why. $SNDKB surged 10.99% in a day to 889.34, climbing all the way from 798.71. It’s just a breath away from its 24-hour high of 904.83.
This kind of rally is most agonizing for people on the sidelines: the higher it goes, the harder it is to chase, and if you do, you worry about getting wiped out by a single bearish candle. Even those holding it probably aren’t feeling too comfortable—904.83 is right overhead. If it can’t break above that level, it could leave a long upper wick; only a clean break would truly open up more room. Put simply, it’s not that the rally is weak—it’s moving so fast that no one dares to jump in.
I could be wrong, but I’d rather watch from the sidelines for now and see what it does around 904.83. I’ll own it if I’m wrong. 904.83 is the key level: if it breaks above, I’ll change my mind immediately—that would show this rally still has momentum. But if it gets turned back at 904.83, those chasing the price today could be in for a rough time.
SNDKB is up to 889.34. Do you think this is just getting started, or is distribution already underway?
$SNDKB
#SNDKB #MarketAnalysis
This kind of rally is most agonizing for people on the sidelines: the higher it goes, the harder it is to chase, and if you do, you worry about getting wiped out by a single bearish candle. Even those holding it probably aren’t feeling too comfortable—904.83 is right overhead. If it can’t break above that level, it could leave a long upper wick; only a clean break would truly open up more room. Put simply, it’s not that the rally is weak—it’s moving so fast that no one dares to jump in.
I could be wrong, but I’d rather watch from the sidelines for now and see what it does around 904.83. I’ll own it if I’m wrong. 904.83 is the key level: if it breaks above, I’ll change my mind immediately—that would show this rally still has momentum. But if it gets turned back at 904.83, those chasing the price today could be in for a rough time.
SNDKB is up to 889.34. Do you think this is just getting started, or is distribution already underway?
$SNDKB
#SNDKB #MarketAnalysis