📊 $SKY Technical Analysis & Setup
The recent 4.1% rebound on 3.3x volume reclaimed 0.0560, but it hasn't broken the confirmed 1h lower-high structure. This looks like a high-volume squeeze into supply rather than a true trend reversal.
• Key Support / Demand: 0.0560, 0.0545, with deeper demand at 0.0514 and the 0.0504 swing-low liquidity.
• Resistance / Supply Targets: 0.0573, 0.0580 zone.
• Trigger / Confirmation: Short entry favored around 0.0573–0.0580 only on a clear rejection, bearish engulfing candle, or lower-timeframe market-structure shift.
• Risk / Invalidation: A decisive 1h close above 0.05755 invalidates the bearish bias and opens continuation upside. Use strict stop-loss protection beyond structure-flip levels.
• Market Execution: Manage risk tightly against volatility spikes and maintain disciplined positioning.
DYOR — Educational setup, not financial advice.
#BinanceSquare #Crypto #SKY #Trading
The recent 4.1% rebound on 3.3x volume reclaimed 0.0560, but it hasn't broken the confirmed 1h lower-high structure. This looks like a high-volume squeeze into supply rather than a true trend reversal.
• Key Support / Demand: 0.0560, 0.0545, with deeper demand at 0.0514 and the 0.0504 swing-low liquidity.
• Resistance / Supply Targets: 0.0573, 0.0580 zone.
• Trigger / Confirmation: Short entry favored around 0.0573–0.0580 only on a clear rejection, bearish engulfing candle, or lower-timeframe market-structure shift.
• Risk / Invalidation: A decisive 1h close above 0.05755 invalidates the bearish bias and opens continuation upside. Use strict stop-loss protection beyond structure-flip levels.
• Market Execution: Manage risk tightly against volatility spikes and maintain disciplined positioning.
DYOR — Educational setup, not financial advice.
#BinanceSquare #Crypto #SKY #Trading
