SPCX breaks below 160! Don’t buy the dip! The bearish feast has just started—its sights are set directly on 140! It’s all about the chart at the start… no, it’s all about the opening with a huge bearish candle!

This move is from 210 down to 155. Brothers who followed ShenCe’s rhythm and laid shorts at 207–210 are probably already grinning. But this is just the appetizer. Today, I’m going to tell you why the drop is far from over.

The news and the technicals are in sync— the death spiral is beginning! Don’t talk to me about fundamentals. Just look at SpaceX next door: a single-day crash of 16%, with a $400 billion market cap wiped out. Panic spreads across the market, and risk assets are sold off indiscriminately.

Now look at SPCX’s 1-hour candlestick chart: a standard bearish stacking pattern. The price is being pressed tightly near the lower band of BOLL, grinding there with no signs of stabilizing. Smart money is fleeing like crazy!

Keep your eyes on the data. Although traders’ total open positions are 210 million, a closer look shows long positions of 39.52 million, with an average cost of 174.46, but they’re sitting on a loss of 5.38 million. Meanwhile, short positions are at 170 million USD, with a cost of 170.88, and a floating profit of 19.27 million.

So what does this mean? The main funds have already completed the position swap above 170. The current decline is the combined result of profit-taking dumping and stop-loss orders flooding out!

As long as the longs aren’t dead and the shorts aren’t over, the drop won’t ease until these losing longs cut their losses and exit.

ShenCe’s view: A rebound is an opportunity to short! For aggressive players, short directly at the current price of 155. If you want to go long, you can enter with a light position around 130–140—but don’t casually call the bottom below.

#我的Gate交易时刻 $SPCX