$SOXLB : Resistance Test Fails: Bearish Momentum Building Fast
SHORT SETUP SOXLB
Entry: $94.7000 - $94.8800
Stop Loss: $98.1600
Take Profit: $88.0500 (2R)
Key Levels: Support $93.4000 | Resistance $108.040
Technical Analysis for $SOXLB : RSI at 31.99 and Stochastic K/D near 14 signal oversold conditions, while ADX 42.6 confirms a strong trend. MACD is bearish, with the line below the signal and a negative histogram. Price sits under EMA9, EMA21, EMA50 and EMA200, reinforcing downside momentum. Short bias is clear. Together, these indicators favor SHORT continuation toward support.
Market Context: BTC is in a bearish 4hour trend and the broader market shows a broadly negative breadth with 70.4% red assets.
SHORT $SOXLB
SHORT SETUP SOXLB
Entry: $94.7000 - $94.8800
Stop Loss: $98.1600
Take Profit: $88.0500 (2R)
Key Levels: Support $93.4000 | Resistance $108.040
Technical Analysis for $SOXLB : RSI at 31.99 and Stochastic K/D near 14 signal oversold conditions, while ADX 42.6 confirms a strong trend. MACD is bearish, with the line below the signal and a negative histogram. Price sits under EMA9, EMA21, EMA50 and EMA200, reinforcing downside momentum. Short bias is clear. Together, these indicators favor SHORT continuation toward support.
Market Context: BTC is in a bearish 4hour trend and the broader market shows a broadly negative breadth with 70.4% red assets.
SHORT $SOXLB