$SNDK just made huge breakout ๐ฅ
Price is at $1,710 after a sharp V-shaped recovery from the $1,618 low. That was a strong reaction, but one 1H candle doesn't flip a trend.
The key level to watch is $1,731. As long as price stays below it, the broader downside structure remains intact.
If bulls reclaim $1,731: The next test is $1,772, then $1,812.
If bears reject here: A failure to hold $1,650 opens a retest of the $1,618 low.
My read: The bounce is impressive, but it's still inside a downtrend. I want to see a higher low form above $1,650 before trusting any upside. No chasing green candles.
Price is at $1,710 after a sharp V-shaped recovery from the $1,618 low. That was a strong reaction, but one 1H candle doesn't flip a trend.
The key level to watch is $1,731. As long as price stays below it, the broader downside structure remains intact.
If bulls reclaim $1,731: The next test is $1,772, then $1,812.
If bears reject here: A failure to hold $1,650 opens a retest of the $1,618 low.
My read: The bounce is impressive, but it's still inside a downtrend. I want to see a higher low form above $1,650 before trusting any upside. No chasing green candles.
