Solana - Continuation after Consolidation, Shorts get REKT
Updated
Twitter Influenzas, NFT muppets and Macro labradors cheering how they sold the local TOP.
unfollow anyone telling you it is over, we only getting started. people shorting in those conditions deserve to loose evrything.
don't get shaken out from your beliefs and positions with conviction. avoid leverage.
enjoy the ride.
we had several days of consolidation after a massive run up from 17/18 USD.
of course the coin has to take a breather. it does not mean it will dump.
this consolidation and new support of around 50$ is very bullish.
we now see the RSI and EMA cross over on the 16H and above 50.
check-marks show you were we have been last time this happened.
i believe many whales, influenzas and vc's are still not allocated enough to SOL and the wash out after FTX was actually a blessing for the ecosystem. many legit teams have built good apps and now start to launch tokens and bless their loyal followers with airdrops.
a lot of apps and project are still not properly priced and many sideliners will just bid whatever they find. do your research but remain careful. profits should always be rolle dover to SOL and later i the cycle we buy BTC.
unfollow anyone telling you it is over, we only getting started. people shorting in those conditions deserve to loose evrything.
don't get shaken out from your beliefs and positions with conviction. avoid leverage.
enjoy the ride.
we had several days of consolidation after a massive run up from 17/18 USD.
of course the coin has to take a breather. it does not mean it will dump.
this consolidation and new support of around 50$ is very bullish.
we now see the RSI and EMA cross over on the 16H and above 50.
check-marks show you were we have been last time this happened.
i believe many whales, influenzas and vc's are still not allocated enough to SOL and the wash out after FTX was actually a blessing for the ecosystem. many legit teams have built good apps and now start to launch tokens and bless their loyal followers with airdrops.
a lot of apps and project are still not properly priced and many sideliners will just bid whatever they find. do your research but remain careful. profits should always be rolle dover to SOL and later i the cycle we buy BTC.
Note
We form a nice retest on the yellow upper bound of the triangle.
61 USD remains resistance until here.
Note
We passed through the 61 USD R and now on our way higher.
Re-test completed - see orance circle on the chart.
How can we look for such entries? here is part of my system:
I was looking at 8H D7R RSI and recognized the green dot for bullish signal.
Then I check 12H, 16H and can frontrun the final confirmation on the 24H if the first 3 timeframes all align bullish.
Note
It is not that easy, BTC pushes to 42k and we are back at the 61USD resistance line, marked in Red. BONK is also stealing some mindshare of SOL and I believe many rotate profits to Beta plays.
We will see how far BTC goes and when it consolidates we have a good chance of continuation for Alts. Otherwise observe the trade and set a reasonable stop loss.
Note
For now we took the 61USD and advance to 62 USD even.I added another trend line which i previously deleted. Now the structure makes more sense. very tight triangle
Note
One follow up: look at the yellow circle. We got a nice entry signal with the green dot. It followed some uncertainty which was also reflected in price and a showing sell signal with grey dot. This 61USD was stronger resistance than expected. Those are the moments wher eit makes sense to check the timeframes like 16h, 8h, 4h to get some idea of what is happening. It could also add noise and confusion. Sometimes it is best to do nothing and let the trade play out.
Congrats on this move, I hope you made some profits on this Idea.
We are now in 75-80 USD box, it woudl be nice to consolidate again before taking off to +100 levels. we dont want to get too over extended.
It seems many people heard about defi and airdrops in solana ecosystem and are now trying out the tech. with its fast and cheap transactions, maybe many of them will stay and keep the liquidity up. exciting to see play out.
Note
enjoy the ride, dont get shaken out!Trade closed: target reached
We reached key resistance around 75-77 USD, and now in the process of breaking this to the upside.Will follow up with idea once new leg is done. stay in spot, bull market is only starting
Note
Thank you everyone boosting this idea and still following up with the progress.I have certainly not expected such a feedback and enjoy every DM i get about this plan and how you executed!
Still there are many "ideas" on TV which call for 1 USD and similar targets. Easier to just buy and not carry anymore bear market ptsd. but whatever.
MANIA starts when coins break their previous ATH. we are still on the way to find those targets. enjoy the ride.
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