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Bearish

$SNDK It’s up 8.4%, but now I’m actually afraid to chase it.



This run from 1194 to 1365 has been quite a surge, but the closer it gets to 1377.78, the more I want to wait.

Why?

On one hand, funds have clearly flowed back in over the past 12 hours, showing that short-term traders are still piling in; on the other, funds have seen net outflows of about 350 million over the past 7 days, indicating that mid-term capital hasn’t fully returned.

More interestingly, the average cost for longs is 1374.59, and the current price hasn’t risen above it yet. In other words, the price is already up 8%, but these high-priced long positions haven’t truly moved out of the cost zone.

So I’m not guessing whether it’s about to squeeze shorts.

I’ll only consider turning bullish if 1377.78 is broken on strong volume and holds as support; if it fails to break through and then falls below 1340, I’d be more cautious that this rally is starting to lose steam.

The stronger the rally, the less you should focus only on the percentage gain.

The key isn’t how much SNDK has already risen, but whether it can truly turn 1377 into support.

#美联储利率决议倒计时
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SNDKSNDK-0.18%

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MEVBotTrainer
an hour ago
A net outflow of 350 million over 7 days—these figures have my hands shaking; I don’t dare make a move.
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GateUser-8942e57e
an hour ago
I'm dying laughing—what a talent, 1377.78. Hahahaha, someone like you would get laughed to death in the community 🤣🤣
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BlackSwanObserver
an hour ago
Markets are shaky ahead of the Fed decision; chasing highs at a time like this is too risky.
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MiningCoder
an hour ago
Longs’ cost basis is 1,374; they’re still underwater, so let’s wait and see.
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AirdropProphet
an hour ago
The 1377.78 resistance level is indeed crucial; if the price fails to break through it, it's a false breakout.
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KeyNightwatch
an hour ago
Wait for volume to expand and price to stabilize before chasing; buying in now could leave you stuck halfway up the move.
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doudouss5218
an hour ago
Being bearish is the right call
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BrotherRen600
an hour ago
First Review
Wise
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