On a day like today, why use 5 paragraphs when 2 will do. Last night and this morning I discussed about price needing to get going to downside. Today we had more follow through. As of now all I can add to previously posted analysis is price is following the primary "Black" pathway.
Lastly, we're in a wave 4 so remain on your toes.
Best to all,
Chris
Hello Friends, We applied Triangle Breakout and fibo Entry@ 100 Stop-Loss@ 23.6 Take-Profit@ 161.8 . Like , comment if You see a better picture. HAPPY TRADING
The warning I issued last night being an ending diagonal is holding on for dear life and on the cusp of being invalidated.
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Nonetheless, this wave 4 is turning into a complex pattern with this high consolidation. What would clear things up today is a decent decline into the low $50's. While I'm still ruling out the ED posted last night...
Solana just broke a downtrend by creating a higher higher and stopping lower high sequence, now we are waiting for a retracement to a demand zone where we should entry a long position/
Entry: 48.26 (Demand zone)
Invalidation: 34.3975 (Below last lower low)
Target: 101.72 (POC)
Solana is above the liquidity zone
Price is holding 200MA on 30m Timeframe.
I expect a slight rise to the indicated target in case the price fixes above the resistance level.
I keep hearing here and there that SOL is now cheap and the weekly candle is looking like distribution
But is it really?
We have on going downtrend momentum across the board in all assets and when we take some observations of the FTX Solana chart.
Those volumes signatures at the incredibly high. A sign of a massive distribution.
We are yet to see some...
It is possible this is developing into an ending diagonal to complete 4. Just something I noticed and want to get this out to my followers. I was not anticipating this wave 4 completing tonight or tomorrow as I wrote earlier...but this persistent upward bias had me double check something.
This is just something to keep an eye on tonight.
Best to all,
Chris
Today we had follow through. If you compare this morning's update chart to now, we're following through. It's just not an exciting follow through. Based on Private Chats I got today there's a lot of frustration out there.
What I'm about to relay is not to be taken as my price expectations. I'm want to be doubly clear on that. However, there's some anecdotal...
Hello cryptofolks
There is an Idea for solusd based on a rising wedge pattern
Targets are in the chart
Bearish environment is still in act, don't forget to take profit
-Goodluck
I always find it interesting and exciting to have conversations with traders about the markets and their thoughts. As I'm involved in these discussions I find I can't help but to unconsciously compare and contrast to my own analysis while being careful not to turn into a spokesman for my viewpoint. You see, what makes a market efficient is the abundance of...
After small scale rebound, the cryptocurrency is stuck above the level of previous low in July 2021 last year. As the Luna incident subsided, the entire market is slowly recovering, at least no longer scaring like before.
For SOL, it has lost almost all of its gains, although reaching 44 may be affected by the Luna event, but as previously report said, losing...
If Solana was an Air Carrier, then the only question we would have concerning this flight to new lows is...."Is this a non-stop flight, or do we make multiple stops before we arrive at our final destination"?
Black is Primary and Purple is Alternative (Triangle Pattern) but truth is both are looking pretty reasonable. The triangle gained some validity today with...
Sol has been outperforming on this recent run and is likely to continue doing that.
Support at 2h void + swing failure.
Conservative target msb bear level and 2h imbalance.
With no added pressure from the stock market over the weekend it appears Solana was allowed to rally to almost $60. Provided we go no higher than the weekend high, that price will serve as our first clue whenever we do strike a bottom. Eclipsing that resistance area could be our micro wave 1. However let's not get ahead of ourselves and focus on the bottom.
If...
In the short term, I will regret this post because I'm making this call way too early and it's beyond contrarian. In the long term, I'm confident that everything will work itself out. SOL is one of the smelliest coins in the entire cryptoverse. The price action, volume, coin distribution, centralization, and recent network shutdown all trigger my gag reflex. ...
SOLANA Chart shows support and if the market keeps recovering this could now be a great buy.
SOL-mates might consider not giving up because here’s what awaiting Solana :
As with the rest of the market, Solana fell terribly on 9 May and ended up reaching the same all-time high it was at in May 2021. However, the various ecosystem developments around Solana are...
Just looked into Solana and can’t help but notice a triangle formation. The recent crypto rout dislodged it out the bottom of the triangle, and it appears to have popped back in. Noted that typical failures of pattern failures indicates the direct opposite; for this case, exit and Dee try into the triangle at the bottom suggests that it should find the exit of the...
