$SOXLB : Resistance Test Fails: Bearish Momentum Building Fast
SHORT SETUP SOXLB
Entry: $83.4000 - $83.5500
Stop Loss: $86.5000
Take Profit: $77.4250 (2R)
Key Levels: Support $83.0000 | Resistance $84.3900
Technical Analysis for $SOXLB : Indicators point to short bias: price sits beneath the EMA9/21/50 chain, MACD line is under its signal with a negative histogram, and Stochastic K (37) is below its D line, showing downtrend momentum. RSI at 46.5 is modestly bearish, and ADX at 17 signals a weak trend. Resistance sits at 84.39.
Market Context: BTC is in a bearish 4hour trend while the broader market shows more red than green, adding pressure to risk assets.
SHORT $SOXLB
SHORT SETUP SOXLB
Entry: $83.4000 - $83.5500
Stop Loss: $86.5000
Take Profit: $77.4250 (2R)
Key Levels: Support $83.0000 | Resistance $84.3900
Technical Analysis for $SOXLB : Indicators point to short bias: price sits beneath the EMA9/21/50 chain, MACD line is under its signal with a negative histogram, and Stochastic K (37) is below its D line, showing downtrend momentum. RSI at 46.5 is modestly bearish, and ADX at 17 signals a weak trend. Resistance sits at 84.39.
Market Context: BTC is in a bearish 4hour trend while the broader market shows more red than green, adding pressure to risk assets.
SHORT $SOXLB
