Caution! SOL looks weak here...
Updated
SOL is currently in a Symmetric Triangle against BTC. This is a Neutral pattern so it doesn't give us any particular bias regarding SOL's direction, so let's look at some other factors.
Short-term optimism:
The 4-hour chart (not posted) gives me the impression we could move up in the short term, it might be worth a small high-risk position.
Long-term pessimism:
However, we recently just posted another Bearish Divergence (circles) on the daily chart and we're heading into the tip of the Triangle. I'm not touching SOL (vs BTC) until I see some more bullish signals.
Peace and happy trading!
Short-term optimism:
The 4-hour chart (not posted) gives me the impression we could move up in the short term, it might be worth a small high-risk position.
Long-term pessimism:
However, we recently just posted another Bearish Divergence (circles) on the daily chart and we're heading into the tip of the Triangle. I'm not touching SOL (vs BTC) until I see some more bullish signals.
Peace and happy trading!
Note
Currently going as planned. Might find support at the 200 EMA, but I'm currently waiting for an obvious entry.
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