$SKYAI Short Setup After Sweep.
Price Spiked to 0.295. Liquidity Above Prior High Taken.
Now Watch for Rejection.
SKYAI is trading at 0.24043 on the spot order book shown, with the perp having spiked toward 0.295 earlier.
Price has retraced sharply from the high and is now trading below the 7 and 25 EMAs on this timeframe.
That spike above 0.29 swept the liquidity sitting above the prior resistance.
The question now is whether that sweep was the top.
The order book shows asks stacked from 0.25 up to 0.30 with cumulative size in the millions of SKYAI.
Bids are thinner below 0.24. The longer-term EMA at 0.219 is the structural target if the rejection confirms.
The funding rate is positive at 0.083 percent per four-hour interval.
Longs are paying shorts.
The setup you outlined is a sweep above the prior high followed by a rejection.
That pattern appears to be playing out.
The spike to 0.295 took out the high from yesterday.
Price has fallen back below 0.24. If a bearish candle closes below 0.24 on this timeframe, the reversal signal is active.
Short entry on confirmation of the rejection. A close below 0.24 with volume is the trigger.
Stop above 0.26, the 7 EMA zone. First target is 0.219, the 99 EMA. Second target is 0.21.
If price reclaims 0.25 and holds, the short thesis weakens.
Wait for the close. Do not front-run the signal.PRESS to TRADE $SKYAI