Solana had a good run, but it's showing a distribution pattern. The UT was up to 82, so you can expect a scamwick to at least 82 before a final crash. Since this is crypto, nothing is guaranteed, so a healthy stop at a random number above the UT can keep you alive. The final price target is a full retrace down to 42, but in general, I advocate for a tiered exit, closing proportional amounts on the way down.
Confirmation of the drop is high volume and no wick under 68. Ideally closing under 68 with a red candle or a failed recovery would be a perfect entry.
Confirmation of the drop is high volume and no wick under 68. Ideally closing under 68 with a red candle or a failed recovery would be a perfect entry.
Comment:
I think I'll be entering around here. There was no confirmation under 68, yet the candles are looking extremely bearish in this range.
