$SPCX is pressing into the area where sellers need to prove they still have control.
The important part isn't simply that price is near $150. The contract is trading around $148.71, with the latest Binance data showing a 24H high near $149.55 and roughly 8.64M SPCX traded. That makes the $149.50–$150 area the first real test for this short idea.
$SPCX — SELLER TESTING $150
15M / 4H Market Structure
The bigger picture is still volatile rather than cleanly bearish. SPCX has recovered sharply from the early-August lows, so I don't want to short strength blindly.
What matters now is whether the $149.50–$150.00 region produces another rejection.
The Key Observation
Price is approaching the recent high instead of breaking away from it. That creates a clear decision point:
Reject $149.50–$150 → short setup strengthens.
Cleanly reclaim $150 with volume → step aside.
I'm more interested in the reaction than the level itself.
Volume Check
Liquidity is substantial for this perpetual, but high volume also means fast squeezes can happen. The latest Binance snapshot showed about 8.64M SPCX in 24H volume.
What I Like
- $149.50–$150 is a clear nearby resistance zone.
- Price is testing the recent high rather than trading in the middle of nowhere.
- A rejection gives the trade a defined invalidation.
What I Don't Like
- SPCX has strong short-term momentum behind the recovery.
- A breakout above $150 could trigger another squeeze.
- This is a rejection trade, so confirmation matters more than getting the earliest entry.
My Plan
I'm not chasing the first touch.
I want to see a 15M rejection from $149.50–$150.00 followed by a move back below $148.80. That gives sellers something measurable to defend.
TRADE SETUP
Bias: SHORT
Strategy: Resistance Rejection Short
Timeframe: 15M / 4H
Entry: $149.00 – $149.70
Confirmation: 15M rejection from $149.50–$150.00 and close back below $148.80.
TP1: $147.00
TP2: $144.80
TP3: $142.00
SL: $152.20
R:R: approximately 1:0.7 / 1:1.4 / 1:2.3 using a ~$149.35 average entry.
Invalidation
A decisive 15M/1H reclaim above $150.00, especially with expanding volume, invalidates the rejection thesis. I would rather miss the short than sit against a confirmed breakout.
Final Market View
$150 is the battlefield here.
If sellers actually defend it, $147 is the first downside checkpoint, followed by $144.80 and potentially $142.
No blind 75x chase for me. Let the level confirm the trade.
Are you fading the $150 resistance, or waiting for the breakdown below $148.80 first?
