Looking $SC/USDT on the 1H all evening and this one's telling a very different story from the hype.
$SC — 🔴 SHORT · Conf 75%
Trade Plan: Entry: $0.0006611 – $0.0006649
SL: $0.0007620
TP1: $0.0006133
TP2: $0.0005870
TP3: $0.0005330
Why this setup?
The daily trend is bearish post-spike, the 4H is confirming the rejection, and the 1H just printed a classic blow-off top structure — a violent wick to $0.0009350 followed by a hard flush back to $0.0006630, now struggling to reclaim MA7 at $0.0006950.
RSI on the daily sits at 62.25 and price is near the upper Bollinger Band — after a 78% intraday spike that's already been almost fully given back, this is not "room to run." This is distribution.
Entry reference is $0.0006630, with TP1 at $0.0006133 and TP2 at $0.0005870 — that's a 7.5% move to the first target following the mean reversion.
Why now? This is not a counter-trend guess. Moving averages from MA5 to MA200 show 0 Buy signals and 12 Sell signals on the daily — the spike was a liquidation event, not a trend change. Price is now back below MA7 on the 1H and the structure is rolling over.
ATR is sitting at 3.5% of current price — volatility is elevated after the spike, size way down accordingly. The stop at $0.0007620 sits just above the last 1H retest zone and keeps risk defined.
Debate: The spike to $0.0009350 flushed shorts massively — but with price already back at $0.0006630 and no clear catalyst driving a second leg, is this a dead cat or is there actually a higher low forming here that changes the structure?
#SC #Siacoin #TradingSignal #BinanceSquare
$SC — 🔴 SHORT · Conf 75%
Trade Plan: Entry: $0.0006611 – $0.0006649
SL: $0.0007620
TP1: $0.0006133
TP2: $0.0005870
TP3: $0.0005330
Why this setup?
The daily trend is bearish post-spike, the 4H is confirming the rejection, and the 1H just printed a classic blow-off top structure — a violent wick to $0.0009350 followed by a hard flush back to $0.0006630, now struggling to reclaim MA7 at $0.0006950.
RSI on the daily sits at 62.25 and price is near the upper Bollinger Band — after a 78% intraday spike that's already been almost fully given back, this is not "room to run." This is distribution.
Entry reference is $0.0006630, with TP1 at $0.0006133 and TP2 at $0.0005870 — that's a 7.5% move to the first target following the mean reversion.
Why now? This is not a counter-trend guess. Moving averages from MA5 to MA200 show 0 Buy signals and 12 Sell signals on the daily — the spike was a liquidation event, not a trend change. Price is now back below MA7 on the 1H and the structure is rolling over.
ATR is sitting at 3.5% of current price — volatility is elevated after the spike, size way down accordingly. The stop at $0.0007620 sits just above the last 1H retest zone and keeps risk defined.
Debate: The spike to $0.0009350 flushed shorts massively — but with price already back at $0.0006630 and no clear catalyst driving a second leg, is this a dead cat or is there actually a higher low forming here that changes the structure?
#SC #Siacoin #TradingSignal #BinanceSquare