✳️ Can The Solana vs Bitcoin Consolidation End Now & Why?!
Solana vs Bitcoin is likely to continue growing as the consolidation phase is reaching its end... Let's have a look.
Since we have no follow through from the bears, no bear volume nor major drop, this strengthen the bulls case and after two days green, if SOLBTC closes above EMA50 next week can resume the next leg up.
Note: This analysis of a short-term move is invalidated if prices move and close daily below 0.0009200 but the bullish bias would remain intact and strong.
Namaste.
- SOLBTC peaked 15-Jan and has been consolidation since.
- Prices moved below EMA50/21/10 and are now trading back above these levels, today.
- While the consolidation phase takes place, the RSI stays bullish above 50.
- The 0.382 Fib. retracement level has been hit. On a strong market, this is as far as corrections tend to go.
Since we have no follow through from the bears, no bear volume nor major drop, this strengthen the bulls case and after two days green, if SOLBTC closes above EMA50 next week can resume the next leg up.
Note: This analysis of a short-term move is invalidated if prices move and close daily below 0.0009200 but the bullish bias would remain intact and strong.
Namaste.
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