$SKY — MARKET STRUCTURE 🔴
SHORT $SKY
Entry: $0.066 - $0.070 SL: $0.072 TP1: $0.060 TP2: $0.045
Technical Reason: SKY is in a clear downtrend, influenced by risk aversion in the general market and the decline led by Bitcoin. The price is trading below all major moving averages, and liquidity is extremely shallow with a 49% decrease in volume, which exacerbates downward movements. The stated entry range is seen as a potential resistance zone within the current downtrend.
Risk Management: The RSI being in the oversold region at 27.84 carries a risk of a short-term technical rebound. Volatility may be high due to shallow liquidity, and sudden price movements may occur. Overall market sentiment is at the "Extreme Fear" level (9/100), indicating that selling pressure may continue.
