$SNDK On the daily chart, it dropped to 1000 and then went back up. It closed with a very long lower wick, which proves that the support at 1000 is still there. If it breaks below 1000, the next support is at 800. On the 4-hour chart, after a volume-spike selloff at 1477, it then saw a low-volume decline, and the magnitude of the low-volume selloff is decreasing. After that came another volume-spike selloff, followed by another low-volume selloff. Here the decline has almost formed a cross star, and then there was a rebound on increased volume. At 1100, there is a large amount of liquidity, so even if it retraces back, the strength is still very strong. This move is basically a short-term stabilization above 1000. Looking at the 1-hour chart, after a volume-backed drop to around 1100, it stayed in this zone for a long time, and the volume is still very strong. This could be an entry signal. The fact that the volume-backed consolidation is obvious suggests that someone has entered. And in the end, an “yin engulfing yang” candlestick pattern also appeared, so the bulls are very strong and it’s suitable to enter long.

The start of the decline is at the resistance level of 1280, and at 1470 as well, so the risk-reward ratio is still quite attractive. Don’t hesitate to buy just because price has been falling—this is a common mistake that many beginners make. Don’t be afraid.