SOLANA bounce after retracing to 61.8% Fib. which coincided with the 200 VWMA (thin orange line) on the hourly (note: Thick Orange Line is the 200 SMA).
Higher high on the hourly set, hinting on a possible reversal of the short-term downward trend.
Waiting for potential bull flag breakout vs. BTC.
Ichicloud on the hourly turned bearish though, but will continue to hold. Stop limit set below the 65% Fib level.
Bearish cross of the Red 21 EMA vs. the green 50 SMA on the 4 hourly will be averted if SOL continue to remain above the 50 SMA, after having bounced off of it.
PRISM Oscillators indicated a bullish diversion on the acceleration oscillator.
A more confident short-term bullish outlook will be secured if SOL returns above the red 21 EMA on the 4 hrly, and stop-limit might then be updated (raised) to just below this level accordingly.
Higher high on the hourly set, hinting on a possible reversal of the short-term downward trend.
Waiting for potential bull flag breakout vs. BTC.
Ichicloud on the hourly turned bearish though, but will continue to hold. Stop limit set below the 65% Fib level.
Bearish cross of the Red 21 EMA vs. the green 50 SMA on the 4 hourly will be averted if SOL continue to remain above the 50 SMA, after having bounced off of it.
PRISM Oscillators indicated a bullish diversion on the acceleration oscillator.
A more confident short-term bullish outlook will be secured if SOL returns above the red 21 EMA on the 4 hrly, and stop-limit might then be updated (raised) to just below this level accordingly.
Trade closed: stop reached
Stopped limit at ~0.0018 BTC triggered. Will seek to buy in at lower price. Next strong support at ca. 0.00169 BTC.
Note
Possible next target of re-entry:Note
Note
Continue to get rejected by the red 21 hourly EMABullish divergences appearing on the aj-ribbon though, to note.
Note
Rejection at the 23.6% Fib lvl.
Note
Bearish "m-pattern" double top after rejected by the descending line drawn just broken down below present support line:
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Disclaimer
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.