Solana has hit the -27 fib extension for wave A. This could potentially be the bottom but with the crypto market as it is, it's better to wait for confirmation.
Price looks to be in a descending correction, which is often a bullish reversal pattern.
Confirmation required:
- A big bullish candle breaking the red trendline
- Followed by a bullish correction (bull flag)
Once that is in place, we can look for buying opportunities and have clear stoploss levels.
Trade Idea:
- Once above confirmation appears, enter with stops below the correction
- Targets: 140, 200, 250, HODL
It's important to understand that if this is the next bullrun, it doesn't matter if you enter at $30 or $40. Long term bullish targets will be well above $100 so there will be plenty of money to make even after waiting for confirmation.
Goodluck and as always, trade safe!
Price looks to be in a descending correction, which is often a bullish reversal pattern.
Confirmation required:
- A big bullish candle breaking the red trendline
- Followed by a bullish correction (bull flag)
Once that is in place, we can look for buying opportunities and have clear stoploss levels.
Trade Idea:
- Once above confirmation appears, enter with stops below the correction
- Targets: 140, 200, 250, HODL
It's important to understand that if this is the next bullrun, it doesn't matter if you enter at $30 or $40. Long term bullish targets will be well above $100 so there will be plenty of money to make even after waiting for confirmation.
Goodluck and as always, trade safe!
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