$SKYAI 🔻
$SKYAI just dumped 4.2%, short opportunity?
- Given the velocity of the current dump and overwhelming bearish indicators, more downside is likely, but immediate entry for a short is not ideal as price is extended and could see a reactive bounce.
- The best play is to let price attempt a relief rally. If SKYAIUSDT.P returns to the 0.1350–0.13996 area and prints reversal confirmations like a bearish engulfing pattern, pin bar, or lower timeframe trend reversal (such as a break of a pullback structure), a short entry can be considered there.
- Entry: Look for rejection in the 0.1350–0.13996 area after a bounce, confirmed by reversal candles or lower timeframe SMC break of structure.
- Take profit: 0.12795 first, then 0.12621 if momentum continues.
- Stop-loss should be placed just above the swing high of the bounce or above the 0.13996 resistance.
- If price bounces above 0.13996 and holds, or reclaims 0.1499–0.1513 with strong volume, avoid shorts and watch for a squeeze to the upside.
- This is not the bottom yet—volume and structure point to more selling ahead, but don’t short a wick; wait for confirmation and a decent risk-to-reward.
📝 This is not investment advice, just an educational analysis to help you understand the current market scenario. Let the price action guide you, and always wait for confirmation before considering an entry!
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