July 10 early morning SPCX market analysis – Shiyuan's view

After the previous sharp decline from highs, 168 remains the strongest resistance level in this round. On the 4-hour timeframe, the price bottomed at 145 and then started a volatile rebound and repair. The recovery after the drop has not yet shown any reversal signals.

The current slight volatile upward movement is just a phased rebound and consolidation after a deep decline. It is basically unrealistic to rely solely on this rebound to directly reverse the previous overall weak trend.

Moreover, the bearish momentum on the 4-hour period is gradually weakening, making it difficult for bears to initiate another large-scale sell-off. After retesting support, the price is more likely to continue upward to test resistance. Avoid blindly chasing longs at highs and getting trapped.

Suggestions:
Short in the 154-156 range, first target 149. If the price effectively breaks down, further look toward 145;
On pullback to 146-149 with stabilization, arrange longs, target 154-156, stop loss 143.
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