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MichaelL200

Solana, Weekly, Head and Shoulders + Imbalance to be filled

Short
Solana (FTX:SOLUSD)  
MichaelL200 Updated   
FTX:SOLUSD   Solana
Supply and Demand Fibonacci Head and Shoulders solana SOL SOLUSD solusdt head_and_shoulder SND IMB imbalance LOGARITHMIC
11
2
supplyanddemand fibonacci headandshoulders solana sol solusd solusdt head_and_shoulder snd imb imbalance logarithmic
Log scale. I predict a further decline in Solana's price due to the head-to-shoulder formation and the still unfilled imbalance. Target 1 is very likely to be achieved. The same with Target 2 due to the inefficiency and still unmitigated demand zone. Target 3 is pretty extreme to reach, but we will see.
Comment:
Interestingly, this bearish pattern on such an important logarithmic chart is present in a chart of cryptocurrency that is regularly not working.
Comment:
Target 1 reached! Solana to zero, to the hell!
Comment:
It could have been played both ways. The zone below Target 1 worked nicely. To reach the rest of the Targets, it would have to go badly with Solana.
Comment:
It's interesting that I did this analysis on Solana listed on FTX. What a coincidence...
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