$SKY confirmed breakout: Path to the upside open. ๐
$SKY has cleanly broken through descending resistance, hitting new highs near 0.0890. The demand zone at 0.0800โ0.0810 worked as a perfect launchpad, and the structure has now flipped fully bullish.
The Setup:
Support: The 0.0830โ0.0850 area and the ascending trendline are now the key zones to watch. A pullback to this level that holds would be a textbook continuation setup.
Bull Case: As long as we stay above the trendline, the momentum remains with the buyers.
Bear Case: Losing the trendline on a closing basis would signal the breakout is losing steam and could lead to a deeper retracement.
The breakout is confirmed-now it's all about holding the higher lows.
CTA: Are you buying the breakout or waiting for a retest of 0.0850? ๐
SKYUSDT
Perp
0.05643
+0.28%