SOLBTC.P trade ideas
SOL / BTC Forming a Bowl and Smooth Accumulations !
Solana's performance against Bitcoin has been quite healthy over the past few years.
Before the FTX collapse, the price consolidated for months in a completely horizontal range.
The FTX crash caused the price to form the bottom of the bowl structure and the price accumulated in the bottom of the bowl for months.
After months of accumulation, the price broke above two consecutive downward accumulation areas, settling just above the first accumulation area.
The fact that the current accumulation zone just above first accumulation zone has acted as support for the past 7 months indicates a very healthy trajectory.
Moreover, this 7-month horizontal process seems to have started turning upwards in September, touching the bowl structure.
If this structure continues to function healthily, it means that the direction will continue upwards in the near term, reaching as far as the end of the bowl.
SOL - comparing BTC and USD pairsTwo things I like to do for alts:
1. Draw fixed range volume profiles on high timeframe ranges
If SOL should lose the current range, looking at previous range VAL/VAH/POC for targets can work better than looking at actual sweep levels, since you're looking at where most volume has been traded which means looking at where most people entered, exited, ...
2. Look at BTC pair as well for confluence
seeing targets on both sides on the BTC pair and USD pair that seem similar, helps with building ideas for both sides. If I would only upside targets on the BTC pair, with downside all cleaned up, then I'd be more interested in looking for upside on the USD pair as well.
SOLBTC forecastHere is my SOLBTC analysis. I think in the initial BTC run we will have SOLBTC pull back to my buy zone of below 0.0020. Anywhere below there is a great opportunity to accumulate. I think what starts with the BTC momentum will turn into a SOL dominance iin the second leg of the bull market where I expect SOL to be the ETH of this cycle with a parabolic upside not only against USDT but against the BTC. This is not a financial advice. Please DYOR.
SOLBTC Cup and HandleCould be the start of a massive repricing for SOL. With SOL TX and DEX volume surpassing ETH L1 & L2s combined, I think CRYPTOCAP:SOL is poised to eat a lot of ETH's would-be market share, if the TXs weren't $100 a swap. Consumers are here, now, and ETH UX isn't where it needs to be to capitalize.
I hold both, but more bullish on CRYPTOCAP:SOL as a go-fwd smart contract platform in the near term.
SOLBTC Solana will be No. 1 Coin of Future and beat BTCCritical Vote in Washington: The Future of Bitcoin (BTC) Hangs in the Balance
Bitcoin
With Bitcoin rocketing in value and Wall Street circling like a hawk, the US crypto industry is holding its breath as a crucial vote approaches in Washington next week.
The Financial Innovation and Technology for the 21st Century Act, or Fit21, could reshape the regulatory landscape for digital assets, potentially welcoming the industry into the fold or slamming the brakes on its recent growth spurt.
“By passing this legislation, we can accelerate the growth of blockchain technology and digital assets, fostering financial inclusion and protecting national security.”
Never the Less SOLANA is in an long term upward trend but correcting at the moment
Sol/btc short again!!Sol/btc short position again!!
According to the weekly chart, the price compression is quite noticeable. I expect the red trend line to break soon. In this case, the price will decrease to at least the previous lth. This provides an exceptional opportunity for traders
pooya bahaeepoor
$SOL is weakening against $BTC ?#sol / #btc pair chart has formed bearish shoulder head shoulder in mid term. Chart is weakening but there may be bounces or relief rallies in lower time frame. Red box is the moderate support level for #solana / #btc price if dump emerges market. Not financial advice.
Further support for a big move down coming with $SOLSimilar to my previously posted chart on SOLUSD, SOLBTC is showing similar weakness, and may have already broken support. Typically you can see big moves in alts first in there BTC pair charts. And this is further support that something is brewing in risk assets. Perhaps only crypto? But more likely something bigger.
Solana heatiing up...You don't wanna miss the next leg up in cryptocurrencies, and specially not in Solana, which seems likely to outperform Bitcoin (and Ethereum) once again.
I've decided to optimize my crypto holdings to try and farm as many airdrops as possible, as efficiently as possible, but it's vital to not overlook returns of the assets we hold (liquid assets).
Many people are trying to get rich trading memes, which honestly is a far better lottery than buying lotto tickets, but still a rather hard to win game. Solana benefits from this, being the most easily accessible, easy to use and cheap to trade in and launch new memes on. This translates into more fees, and demand for SOL tokens.
Check my previous SOL posts, this one has been one of the best trades in crypto, all things considered and I spotted it early on if you were paying attention or already a client of mine.
Hope everyone is having a nice weekend!
Best of luck!
Cheers,
Ivan Labrie.
SOL/BTC - Solana: BBand Breakout◳◱ On the $SOL/ CRYPTOCAP:BTC chart, the Bband Breakout pattern suggests an upcoming trend shift. Traders might observe resistance around 0.0026222 | 0.0029394 | 0.0036074 and support near 0.0019542 | 0.0016034 | 0.0009354. Entering trades at 0.0023372 could be strategic, aiming for the next resistance level.
◰◲ General info :
▣ Name: Solana
▣ Rank: 5
▣ Exchanges: Binance, Huobipro, Mexc, Kraken, Hitbtc
▣ Category/Sector: Infrastructure - Smart Contract Platforms
▣ Overview: Solana is a public base-layer blockchain protocol that optimizes for scalability. Its goal is to provide a platform that enables developers to create decentralized applications (dApps) without needing to design around performance bottlenecks. Solana features a new timestamp system called Proof-of-History (PoH) that enables automatically ordered transactions. It also uses a Proof of Stake (PoS) consensus algorithm to help secure the network. Additional design goals include sub-second settlement times, low transaction costs, and support for all LLVM compatible smart contract languages.
◰◲ Technical Metrics :
▣ Mrkt Price: 0.0023372 ₿
▣ 24HVol: 368.582 ₿
▣ 24H Chng: 4.798%
▣ 7-Days Chng: -0.22%
▣ 1-Month Chng: -13.73%
▣ 3-Months Chng: 80.49%
◲◰ Pivot Points - Levels :
◥ Resistance: 0.0026222 | 0.0029394 | 0.0036074
◢ Support: 0.0019542 | 0.0016034 | 0.0009354
◱◳ Indicators recommendation :
▣ Oscillators: BUY
▣ Moving Averages: BUY
◰◲ Technical Indicators Summary : BUY
◲◰ Sharpe Ratios :
▣ Last 30D: -2.73
▣ Last 90D: 2.52
▣ Last 1-Y: 2.48
▣ Last 3-Y: 1.02
◲◰ Volatility :
▣ Last 30D: 0.91
▣ Last 90D: 0.90
▣ Last 1-Y: 0.91
▣ Last 3-Y: 1.19
◳◰ Market Sentiment Index :
▣ News sentiment score is N/A
▣ Twitter sentiment score is 0.57 - Bullish
▣ Reddit sentiment score is 0.74 - Bullish
▣ In-depth SOLBTC technical analysis on Tradingview TA page
▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated!
◲ Disclaimer
Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk.
▣ Welcome to the home of charting big: TradingView
Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30.
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SOL/BTC - Solana: Trend Reversal◳◱ On the $SOL/ CRYPTOCAP:BTC chart, the Trend Reversal pattern suggests a pause in volatility, potentially gearing up for a breakout. Traders might observe resistance around 0.0026222 | 0.0029394 | 0.0036074 and support near 0.0019542 | 0.0016034 | 0.0009354. Entering trades at 0.0022664 could be strategic, aiming for the next resistance level.
◰◲ General info :
▣ Name: Solana
▣ Rank: 5
▣ Exchanges: Binance, Huobipro, Mexc, Kraken, Hitbtc
▣ Category/Sector: Infrastructure - Smart Contract Platforms
▣ Overview: Solana is a public base-layer blockchain protocol that optimizes for scalability. Its goal is to provide a platform that enables developers to create decentralized applications (dApps) without needing to design around performance bottlenecks. Solana features a new timestamp system called Proof-of-History (PoH) that enables automatically ordered transactions. It also uses a Proof of Stake (PoS) consensus algorithm to help secure the network. Additional design goals include sub-second settlement times, low transaction costs, and support for all LLVM compatible smart contract languages.
◰◲ Technical Metrics :
▣ Mrkt Price: 0.0022664 ₿
▣ 24HVol: 814.743 ₿
▣ 24H Chng: 3.206%
▣ 7-Days Chng: -4.89%
▣ 1-Month Chng: -23.98%
▣ 3-Months Chng: 57.21%
◲◰ Pivot Points - Levels :
◥ Resistance: 0.0026222 | 0.0029394 | 0.0036074
◢ Support: 0.0019542 | 0.0016034 | 0.0009354
◱◳ Indicators recommendation :
▣ Oscillators: NEUTRAL
▣ Moving Averages: BUY
◰◲ Technical Indicators Summary : BUY
◲◰ Sharpe Ratios :
▣ Last 30D: -3.43
▣ Last 90D: 2.05
▣ Last 1-Y: 2.26
▣ Last 3-Y: 0.99
◲◰ Volatility :
▣ Last 30D: 1.06
▣ Last 90D: 0.89
▣ Last 1-Y: 0.91
▣ Last 3-Y: 1.19
◳◰ Market Sentiment Index :
▣ News sentiment score is 0.39 - Bearish
▣ Twitter sentiment score is 0.57 - Bullish
▣ Reddit sentiment score is 0.55 - Bullish
▣ In-depth SOLBTC technical analysis on Tradingview TA page
▣ What do you think of this analysis? Share your insights and let's discuss in the comments below. Your like, follow and support would be greatly appreciated!
◲ Disclaimer
Please note that the information and publications provided are for informational purposes only and should not be construed as financial, investment, trading, or any other type of advice or recommendation. We encourage you to conduct your own research and consult with a qualified professional before making any financial decisions. The use of the information provided is solely at your own risk.
▣ Welcome to the home of charting big: TradingView
Benefit from a ton of financial analysis features, instruments and data. Have a look around, and if you do choose to go with an upgraded plan, you'll get up to $30.
Discover it here - affiliate link -
Solana (SOL) and Bitcoin (BTC): Weekly Chart Hints at Potential The SOL/BTC weekly chart presents an interesting technical development that suggests a possible bullish reversal for Solana (SOL) relative to Bitcoin (BTC). Here's a breakdown of the observed pattern and its potential implications:
Double Bottom Pattern:
The chart appears to be forming a double bottom pattern. This pattern is generally considered bullish within the context of a trading pair (like SOL/BTC) and indicates a potential reversal of SOL's price dominance relative to BTC. Here's a closer look at the double bottom:
Two Bottoms: The chart displays two troughs, or lows, in the SOL/BTC price ratio. The second trough (the "right bottom") is ideally higher than the first trough (the "left bottom").
Neckline: A neckline is drawn by connecting the lowest points of the two troughs. A breakout from this neckline, ideally with increased trading volume, could signal a potential increase in SOL's dominance relative to BTC.
Target Ratio:
Based on the double bottom pattern, a target ratio for SOL/BTC could be around 0.0054. This target is calculated by measuring the vertical distance between the neckline and the bottom of the right trough and then adding that distance to the breakout point above the neckline.
Important Considerations:
Technical analysis is a valuable tool, but it's not a guaranteed predictor of future price movements. Other factors like overall market sentiment, news events specific to SOL or BTC, and general market trends can influence the price ratio.
This analysis explores a potential opportunity, but it's vital to conduct your own research on both SOL and BTC before making any investment decisions.
SOL/BTCSince the market narrative rely heavily on Solana chain and on chain meme coins, I think we should start drawing our attention into SOL/BTC pair.
Currently showing strength and may aim the 0.04 level. The question is are we going to be able to see that on this bull run, if it can break that level and stay above it.
Not a financial advice