Alikze »» SOL |Continuation of scenario 5 bullish

According to the previous analysis, now with more than 110% growth since the time of the analysis, which is in the ascending wave 5, it can continue until the area of 2.618 or the next supply area of this extension of the wave, which will reach the major ceiling area, which is an important supply area. It will be and after that I expect a correction wave after which we have to do the update. But for now, a short-term trend can be imagined for it.
If the behavior and structure of the post changes, it will be updated.
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Comment:

A short correction and according to the path and the continuation of the wave movement up to the Fibo area of 2.618 and the touch target, and currently it has continued to grow up to $205, which is still a suitable momentum for the final target and the supply area and the previous major ceiling.

Comment:

Zigzag is correcting in 4H and 8H time. If he can't break the red box, he can continue to the previous liquidity area, and then by breaking it, he can continue the correction up to 150 dollars. If the red box breaks the first target of Fibo is 1.618, and if it breaks, you can retest the previous supply area.

Comment:

According to the movement path, after hitting the resistance zone, did not react negatively and corrected to the first zone.

Comment:

According to the trajectory of more than 23% correction from the red box, after it was not able to break the range.

Comment:

According to the current wave structure, this correction can be completed in the S4 support area. If this wave does not overlap with the previous wave (Invalidation LVL), we should wait for the return of this wave. Now you have to wait for its reaction and behavior. I will update the post if the process is approved.

Comment:

The rising wave 5 has formed a diagonal ending pattern and a three-wave correction is currently being completed. Therefore, the likely scenario after the break of the $125 area will be the target of 100 and then the green box of the 0.618 Fibo range of the entire move. This modification can appear as multiple zigzags.
If the behavior and structure of the post changes, it will be updated.

Comment:

After reaching the supply range, it faced selling pressure.