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Is SNDK 1375 a top or a bottom?
$SNDK /USDT - SHORT
Trading plan:
Entry: 1373 – 1377
SL: 1397
TP1: 1359
TP2: 1348
TP3: 1332
Why focus on this structure?
- The 4H direction is clearly bearish; the 1D is ranging/sideways. In the short term, the 15M RSI has already surged to 74.21, making the overbought signal very obvious.
- Current price at 1375 is close to the short-entry reference; TP1 at 1359 gives a risk-reward ratio of nearly 1:2.
- Why now? End of the range + overbought—bearish momentum could explode at any moment.
Discussion:
In this move, will it hit TP2 at 1348 first, or is this a bull trap that will squeeze/liquidate the shorts?