⚡ SKY Enters a Critical Correction Phase Momentum Shifts, Bears Take Control ⚡
$SKY is no longer riding hype — it’s entering a necessary and technically healthy correction after failing to defend the $0.064 Fibonacci support level. That breakdown marked a clear turning point, and price action since then confirms one thing: buyer momentum is fading.
🔻 Momentum Breakdown Signals Trouble
SKY has now slipped below the 30-day Simple Moving Average (SMA), a classic sign that bullish pressure is exhausting. This isn’t random volatility — it’s structure breaking.
Zooming into the 4H timeframe, the picture becomes even clearer:
The 50-day moving average is trending downward
Lower highs are forming
Bears are firmly in control of short-term momentum
This confirms a bearish continuation trend, not just a temporary wick.
🎯 Why a Deeper Pullback Makes Sense
With the broader market still volatile, SKY needs to reset positioning. That means:
Flushing out over-leveraged Longs
Letting price revisit lower demand zones
Rebuilding a healthier base for any future rebound
The key area to watch sits around $0.057, where previous demand and liquidity are likely to converge. Until then, rallies into resistance remain technically vulnerable.
📉 Futures Market Signals: Short-Side Scenarios
🔴 $SKY Short Setup — Playing the Healthy Correction
Entry Zone:
• $0.0600 – $0.0620
Take Profit (Lower Band Target):
• $0.0570 – $0.0545
Stop Loss:
• $0.0630 (tight 1.5% risk control)
This setup focuses on capturing the natural pullback within a confirmed bearish structure.
🔴 $SKY Short Setup — Waiting for Pullback to Short
For traders waiting on a stronger rejection:
Entry Zone:
• $0.0635 – $0.0645
Take Profit:
• $0.0510
Stop Loss:
• $0.0655
This scenario targets a liquidity sweep into resistance before continuation lower.
#TokenForge #BTC90kChristmas #StrategyBTCPurchase #BTCVSGOLD #BinanceAlphaAlert