SOLBTC.P trade ideas
SOL/BTC | Is it the expected boarding?!#SOLBTC It was already corrected to 0.618 levels and three days ago there is a rebound from these levels.
Now we are facing a downtrend. In the event that it is broken upwards, we expect more rises on #Solana.
See the previous chart for Solana. Our target is 230. And more at 250.00 and 290.00.
SOL - Wave 2 correction continuingSo I am primarily charting vs BTC for now as BTC is on the move, so the idea is to decide whether to be in an alt or BTC for maximum gains.
In the case of Solana, which is one of my favorite platforms to use, I think the BTC correction still has a ways to go. We got a mega pump, and so it makes sense that this correction would take time to digest that move up. Currently, it looks like a standard ABC correction happening. C wave usually a 1-5 wave move and I am targeting the 0.618 level as the usual area of interest for a wave 2. That 0.618 level also happens to line up well as a 1:1 extensions from A-C.
Keep in mind, this doesn't necessarily mean the USD pair is going to collapse and also that wave 2s can retrace much deeper than the 0.618.
$SOL will go to 4 figures and will replicate 17/18' ETHSolana has had 2 major runs so far this bull season and I'm expecting the last one in Q4 and Q1 of 2022. I think BTC will go to 144K at it's peak and then probably crash 50-60% (if we repeat the cycle fractals) then it will trigger final alt-season and it will run from 50-60K to 100K so SOLBTC at that point should be anywhere between 0.001 - 0.0015.
Sol currently consolidating and it will probably continue to until the end of November/ beginning of December.
Let me know your thoughts in the comments.
SOLBTC is going to test the daily resistance 🦐SOLBTC is going to test the daily resistance 🦐
If the price is going to have a breakout, According to Plancton's strategy (check our Academy ), we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.