$SKY update ๐
After facing strong rejection near 0.069, $SKY continues to respect the broader bearish structure and dropped sharply toward the 0.060 zone. The recent upside move appears to be just a relief bounce rather than a true reversal, with price struggling to push past the 0.063โ0.064 area and printing lower highs.
Buying volume is fading during this recovery, which signals weak bullish commitment. Unless price can secure a clean breakout above 0.064, the path of least resistance remains to the downside.
๐ด Short Setup โ SKY
Entry: 0.0635 โ 0.0645
Stop Loss: 0.0660
TP1: 0.0610
TP2: 0.0595
Risk management is key โ potential returns can range significantly depending on position sizing and leverage (100%โ500%).
Always do your own research and trade responsibly.
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