SOUL had a Nice break out of Downtrend and Channel
A 4H Golden Cross is possible is Bitcoin remains in an uptick
Metrics can trigger bots, but not a guarantee.
SOUL is strongly effected by BTC Moves, correlate entry with BTC.
The following is PURE Speculation and opinion:
The massive rise in crypto is due to unprecedented historical times which skew normal rules.
So I am leaning more toward psychology.
The Initial SCARE, and Lockdown caused above average digital users and attention.
The Injection of unprecedented Trillions into the economy caused mass distortion.
Couple this with...
Soul in a 11% channel One Order
of Magnitude higher than
Initial organic growth channel.
Volume also back to Beginning.
Running out of room...
Good tokenomics and potential for future upside.
Need the volume to show up to break negative momentum.
Else could drop into lower channel
I am just trading the channel waiting for break (up/down??)
What do you think?
In this volatile world, a little hopium never hurts:
Crypto's TMC Jan 24th bottom + Feb 24th Bottom = Double bottom @ 1.5T
= A Macro Reversal Possible if Downtrend resistance can break and hold.
Else, more downside.