$$SNXX This 24-hour flash crash is a big bearish candle with a 20% drop, directly breaking through the uptrend line support at 19.2 from the past three months. This is a textbook-grade bearish breakdown signal. Don’t rush to bottom-fish—the market action is releasing the risk of a short-squeeze trap.

First, look at the data: the current price is 18.61, with a 24h trading volume of 42.9M. Compared with the average volume of 32M over the previous three days, this is a clear surge, indicating that the shorts are concentratedly dumping. The key zone is 19.0–19.2—this was a high-volume trading area earlier; now it has turned into strong resistance. I issued the warning during the noon session because the 15-minute MACD has already shown a top divergence: the price made new highs, but the momentum histogram has shrunk. This kind of divergence is a common precursor before a sharp selloff.

The technical signals are clear: today’s rebound failed to reclaim above 19.2, which confirms the breakdown is valid. For downside support, watch 15.81 (today’s low). If it tests again and then breaks below with increased volume, the next target is the Fibonacci 0.382 retracement at 13.45. Don’t bet on a V-shaped reversal—after such a crash, the rebound is most likely to be a bull trap.

Trading suggestion: if you want to try to catch the bottom, wait for a 30-minute timeframe volume-spike bullish candle below 18.0, and only consider a small position after price re-stabilizes above 18.2; otherwise, it’s better to stay on the sidelines. If you still hold positions, the resistance around 18.9 cannot be broken—reduce exposure or set a stop-loss in this area. I ran a poll for you, friends: do you think today’s low of 15.81 will break? On the left is “breakdown on heavy volume,” and on the right is “support rebound.” Tell me your answer in the comments section, and I’ll update in sync when the next signal appears.

Remember: after a breakdown on heavy volume, the first target is 13.45, and the second target is 11.80. I’m that contract veteran in your group who keeps staring at volume and divergences—don’t fight the position; system signals matter more than any prediction.