Market Update — Sellers Are In Control
The current setup looks clearly bearish across $VELVET, $SOXL . and $WDC .
🔻 $VELVET — Massive rejection from the highs and a sharp breakdown with heavy volume. Price is now trying to stabilize near the lows.
🔻 $SOXL — Strong selling pressure after losing the key support zone. The breakdown candle came with a clear volume spike.
🔻 $WDC — Bearish structure remains intact, with price trading below the Bollinger midline and heavy selling volume.
Right now, I’m not rushing into a long position. I want to see the market form a solid base and buyers step back in before considering the next move.
Bias: Bearish until proven otherwise.
The big question is: Is this the bottom, or is another leg down coming?
#MarketUpdate #Trading #Wdc #Soxl #Velvet
The current setup looks clearly bearish across $VELVET, $SOXL . and $WDC .
🔻 $VELVET — Massive rejection from the highs and a sharp breakdown with heavy volume. Price is now trying to stabilize near the lows.
🔻 $SOXL — Strong selling pressure after losing the key support zone. The breakdown candle came with a clear volume spike.
🔻 $WDC — Bearish structure remains intact, with price trading below the Bollinger midline and heavy selling volume.
Right now, I’m not rushing into a long position. I want to see the market form a solid base and buyers step back in before considering the next move.
Bias: Bearish until proven otherwise.
The big question is: Is this the bottom, or is another leg down coming?
#MarketUpdate #Trading #Wdc #Soxl #Velvet
