🚨👇 Check this main moment and don't miss the opportunity 🚨📣
🚨 $SQD Double Top Pattern CONFIRMED - Is This Altcoin's Bull Run Over? 📉
Short SQD
Entry: 0.0705 - 0.072
SL: 0.076
TP: 0.066 - 0.063 - 0.06
✅ FACT CHECK: SQD's Pattern & Recent Action
Your technical analysis of a double top pattern on$SQD (Subsquid) appears correct. This classic "M" shape on the H1/H4 charts signals potential bearish reversal after an uptrend. It is confirmed when the price breaks below the "neckline" support (your ~$0.07 entry zone). The pattern suggests a failure to break higher resistance twice, indicating waning buying pressure.
Despite this bearish setup, $SQD was a top market gainer on Dec 24, surging +43.7%. This pump aligns with its role as a decentralized data indexing project gaining exchange listings. However, the broader market sentiment remains in "Fear" (Index: 24-27), and SQD's own 30-day volatility is very high at 19.67%.
📊 SHORT ANALYSIS & VERDICT: BEARISH
The setup presents a clear conflict:a reliable bearish pattern versus strong recent momentum. Given the pattern's high reliability when confirmed and the overall "Bearish" market sentiment for SQD, the technical downside risk is significant.
Your trade plan is solid, using the neckline break for entry and placing a stop-loss above the second peak. The take-profit targets are logical, calculated by projecting the pattern's height downward from the breakout point.
#SQD #Subsquid #TechnicalAnalysis #CryptoTrading #DoubleTop
