SOLUSD break out play, mid term
SOLUSD broke the last top from 2021-10-03 at 178 to the upside. also the downtrend line was broke to above.This is a good sign, intermediate correction is over and new highs are in sight.
After my EW analysis, I assume this could be the end of the 4th wave down, and mark the beginning of a wave 5 up. this would mean a potential price target at around 307 if the previous high at 214 could be taken out. With this target, and a stop placed at 137.50 a trade from around 173.50 has a risk reward ratio from around 3.7
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