Hello,
This is the technical analysis for SOL/USDT on the 4 hours time frame.
After a huge upside in the price action SOLUSDT has started consolidating between 28.9$ and 25$ and a falling wedge is being formed which is a bullish sign since the falling wedge is known to be a trend continuing pattern.
Two scenarios might take place:
The first one is that we play in a traditional falling wedge and we break it to the upside.
the second one is that we break downwards which is not so likely.
In conclusion we have to wait for a breakout and remember not to trade inside a pattern but wait for a breakout.
Your feedback matters! Leave a comment below with your thoughts or questions. Let's keep the discussion going and learn from each other. Happy trading! 🚀😊
This is the technical analysis for SOL/USDT on the 4 hours time frame.
After a huge upside in the price action SOLUSDT has started consolidating between 28.9$ and 25$ and a falling wedge is being formed which is a bullish sign since the falling wedge is known to be a trend continuing pattern.
Two scenarios might take place:
The first one is that we play in a traditional falling wedge and we break it to the upside.
the second one is that we break downwards which is not so likely.
In conclusion we have to wait for a breakout and remember not to trade inside a pattern but wait for a breakout.
Your feedback matters! Leave a comment below with your thoughts or questions. Let's keep the discussion going and learn from each other. Happy trading! 🚀😊