July 10 SPCX midday outlook analysis


From the 4-hour timeframe, it’s clear to see the overall main trend. After the market surged to the 228 historical high at the open, bearish power completely took control. Throughout the session, it printed a step-like downtrend. Any time it saw a small rebound mid-way, it was only short-term correction; once the rebound ended, it then refreshed the lows again.
From the technical structure, moving averages across all cycles are being pushed downward, and the bearish alignment pattern is complete. I believe there is no trend reversal signal in the short term.
Trading ideas
If the rebound reaches the 158 to 160 resistance zone, place short positions directly.
Targets look to the 145 low: $GT $SPCX $BTC
GT0.59%
SPCX-2.35%
BTC1.19%
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