Correction was not finished, d-day upon us! Green or Red?
Hello guys,
I have had a nice vacation and now I am back to share my TA with you!
Clearly, the correction has not been finished at the time of my last post. SOLVE broke all the support areas and the 50 and 100 day MA, which is very unexpected and quite bad. From the top it has 'corrected' 76% in BTC value, this is extremely much in a bullmarket. However, this has much to do witch the parabolic BTC run. In USD solve had corrected from 0.51 to 0.25 dollar.
On the chart, solve is still trading in an falling wedge, with is a bullish pattern normally, but there has been no confirmation of breaking it to the upside.
The ADX and DI shows that solve is in a big correction (big gap between red and green line, red on the upside) but there isn’t much power in it anymore, white line at 20. This tells me that we have seen the most of the downwards price movement.
Price is now at a strong support level and I think there is a good chance of bouncing right off this and breaking the falling wedge, but this is just my hypothesis and you should wait for a confirmation on the chart before trading.
By the way, from the top of 8100 SAT, price is now at an absolute barging IMO, but you must also do your own research.
My two scenarios are on the chart. Green or red? What is your opinion?
Trade safe!
I have had a nice vacation and now I am back to share my TA with you!
Clearly, the correction has not been finished at the time of my last post. SOLVE broke all the support areas and the 50 and 100 day MA, which is very unexpected and quite bad. From the top it has 'corrected' 76% in BTC value, this is extremely much in a bullmarket. However, this has much to do witch the parabolic BTC run. In USD solve had corrected from 0.51 to 0.25 dollar.
On the chart, solve is still trading in an falling wedge, with is a bullish pattern normally, but there has been no confirmation of breaking it to the upside.
The ADX and DI shows that solve is in a big correction (big gap between red and green line, red on the upside) but there isn’t much power in it anymore, white line at 20. This tells me that we have seen the most of the downwards price movement.
Price is now at a strong support level and I think there is a good chance of bouncing right off this and breaking the falling wedge, but this is just my hypothesis and you should wait for a confirmation on the chart before trading.
By the way, from the top of 8100 SAT, price is now at an absolute barging IMO, but you must also do your own research.
My two scenarios are on the chart. Green or red? What is your opinion?
Trade safe!
Trade active:
We broke out of the wedge with a beautiful big green candle, on the 4H chart now testing te upper line of the wedge and holding it as suppurt. This is big news after 15 red candles on the daily chart.
