What if we saw a massive manipulation event next week? This would make sense since we are right in the window of a weekly cycle low. If it comes, it should come next week, so the weekly candle that closes today will not be affected by it. Previously, we could manipulate the current range by taking out the extreme points, then dumping the price, creating a PO3, perhaps even closing an extremely bearish daily candle to create maximum fear and reversing it the next day. I just came up with this idea while looking at past price movements and I think this would be perfect to complete this weekly cycle. (This is the September 2023 fractal)
Note
With fear and greed at 29 this would be perfect as a weekly cycle low. If im right with my scenario we now should see some ranging around this area with accumulation followed by an agressive reversal, but it's way to early to tell what will happen here. The fact that Solana is still 22% away from the model 1 distribution price target (110$) makes me think we may have to see more downside.Note
BTC fell lower than expected but in the end it worked out perfectly. The cycle low even came on the exact day, that's crazy.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.