SolanaShort
Norms of a butterfly reversal
SOL has a big pending butterfly reversal. Here's the typical things we see if and when there is a butterfly reversal.
The first drop is usually consistent until it takes out the low of C. This is a breaking of the uptrend but it will usually setup a bull trap.
There will be a parabolic bounce. Some chop. Second parabolic and then reversals typically come around a 76 retracement of the drop.
If a follow through leg comes off this, it's typically very strong.
The first drop is usually consistent until it takes out the low of C. This is a breaking of the uptrend but it will usually setup a bull trap.
There will be a parabolic bounce. Some chop. Second parabolic and then reversals typically come around a 76 retracement of the drop.
If a follow through leg comes off this, it's typically very strong.
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We have signals services starting from only $10.
Find them here: holeyprofitnewsletter.substack.com/p/all-holeyprofit-newsletters
Find 15 free strategies here: holeyprofitnewsletter.substack.com/p/strategies-parent-thread
Find them here: holeyprofitnewsletter.substack.com/p/all-holeyprofit-newsletters
Find 15 free strategies here: holeyprofitnewsletter.substack.com/p/strategies-parent-thread
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.