7.1 Morning SPCX Market Analysis - Shiyuan's View

Since the low of 152, this round has seen strong consecutive bullish rebounds, with bulls continuously pushing up volume, reaching a high of 173 in the phase; after the early morning surge, bullish momentum quickly exhausted, and the 4-hour chart shows a bearish closing candle with a long upper wick after the peak. Now at 170, selling pressure at highs is gradually emerging, and the short term has entered a consolidation phase of long-short competition.

The overall 4-hour trend remains bullish, but the short-term overbought condition needs correction. The market is likely to shift to a high-range consolidation rather than continuing a one-sided uptrend.
Resistance: 173, 171
Support: 169, 166-167
Trading Suggestions:
1. On a rebound to 172-173 with resistance, consider shorting, targeting 169/166
2. On a pullback to 166-167 with stabilization, go long, targeting 171; a break above 173 is needed for further upside

$SPCX