Global chaos continues. Last week we saw the EU pass a sixth round of sanctions against Russia, including energy-related restrictions. Even though the Eurozone experienced high inflation above 8% last month (mainly due to energy), the EU has opted for more tougher sanctions rather than easing relations with Russia to reduce energy pressures. At the same time, we...
BINANCE:SOLUSDT is having another rally so we need to get ready to sell again.
In the 43-45 area we have the ABCD Gartley completing.
The 61.8% level from the previous high on the 31st of May.
At 44.61 we have the 382 from the May 16 high.
Getting above these levels could see a bigger correction higher but as it stands we need to keep selling the pull backs....
Please see chart - I see a 4H bullish orderblock which should be fairly strong as it is confluent with the Weekly Open level and led to market structure breaks (MSBs) of both the local and macro highs, as marked out in the chart. I would wait for a retest into the order block area and then after drilling into a lower timeframe eg 5 min, after seeing a higher high...
BINANCE:SOLUSD
like most of the crypto market, SOL has taken a beating
we are starting to see some positive sentiment across the markets which is causing a nice pop in the crypto space
we see there could be some big time upside on SOL as this was one of the top performers and had one of the highest market caps in the space
could we see SOL return to its...
With last week's decline into the $35 area without making a new low, we have to consider a more complex indirect route to new low's could be at play. The expanded wave 4 scenario. This area between $59.20 and $35.30 has truly lasted longer and has become more complex with each passing week. The below are the only two scenario's worth considering are at play....
In green are waves 1, 2, 3, 4 & 5 of the larger wave 1.
In purple is the base channel formed by waves 1 & 2 of the larger wave 1.
In red is the path of waves A, B & C of the larger wave 2.
In orange are the channels for waves A, B & C of the larger wave 2.
When wave c of the larger wave 2 hits into the base channel, it will also be near the 0.382 fibonacci...
So I think I like this idea more than the one I posted just before this. Here I think that wave C of the larger wave 2 ends at the bottom of the channel inside the red box, between $23.7650 and $16.0325. Thanks for looking, let me know what you think.
It presently seems that SOL will reject the 0.382 retracement level. SOL has rejected $40 four separate times since 09:00 UTC 6/5/2022.
We're looking to catch a move from $39 to $36.50.
SOLANA is finishing up its overall correction pattern, currently in a downward (corrective) wave (v) which has already its proper 1,2,3,4,5 in place (impulsive) and is currently in the subsequent ABC correction phase which "should" bring the price in the $35.33 "ish" zone.
As long as this set up is maintained (and we all know how changing this environment is!)...
Solana (SOL) is giving clear indications that a 3/C wave is closing in on completion. I lean to an abc completion that will lead to some months of relief and an excellent long opportunity.
It seems either a decoupling of the US Indices and Crypto Currencies is underway, or a curveball is coming. I think the curveball is a much more interesting and potentially reasonable scenario. Please indulge me as I explain.
The below SPX futures chart appears we'll have a micro 5 wave structure to the upside in place with one more high. If this plays out,...
Futures Swing Long Signal
Solana (SOL) forming a deep crab harmonic structure on D1 timeframe. Leg C never go beyond A and CD longest wave reversing between 1.618 fib retracement of XA wave.
A Wyckoff Accumulation Schematic #1, supply and demand determines the price direction.
Important PRZ around 24 - 29 dollars.
Our PRZ will still depend on general Bitcoin...
This is feeling very similar to when ETH was in the $100~ range and everyone was convinced it was going a lot lower - fast forward a few years and those people were all terribly wrong and missed one of the greatest buying opportunities simply because they were scared.
as we can see in the chart, in the volume profile the price is under the VALUE AREA, and from the stoch RSI it's in over sold trying to go up again and always the price try stay in the value area especially in the Point of control, but in the MACD, it's still not confirmed yet, me personally I'm waiting the lines to cross each other and I'll make the call and i'll...
Very quick update on SOL: as I said in my last post, I believe Bitcoin is looking rather bearish atm, so I expect SOL to follow and break down below recent support as well. At first I was quite certain that SOL was doing a falling wedge which would've resulted in a reversal to the upside, but given the outlook for Bitcoin + the fact that the falling wedge is not...
I am in the process of re-examining my daily chart. In the process of doing so, (I've pointed this out prior) I want to encourage my followers to watch the low of the prior wave structure's wave 4 bottom.
The bull market in Solana appears to show a wave 4 triangle that bottomed in the $23 area. This becomes a significant area for SOLUSD to find a bottom in...
