SOL Hit the Brakes
SOLUSD After attempting to add a note to my previous Published Idea regarding SOL, it seems TV is having issues adding that note for me. So I will make a new Published Idea regarding SOL.
I have an updated chart image on for a smaller TF.
I suspect SOL to make a slightly lower low here soon, retracing into the GW. I am favoring the 2.272 as the targeted area.
Right now it looks like a Bull Trap Shakeout is printing. Interesting to see how it develops.
- Catch the dip of the dippity dip dip -
Note
Also note that this could be a 3 wave correction before continuing down. So a slightly lower high could be in the playbook as well, which would suggest that a bear trap is currently printing. But I am favoring a 3 wave correction (currently at wave 2 of 3) here before hitting the 2.272. Note
This is looking more like a 3 wave correction. Either one of these retracements could be on. I do however favor the olds of a lower low sometime after the rally ends, but this is never guaranteed. Will keep updating. Note
Note: I did make a SHORT call originally for this post. This was before I noticed the potential of a 3 wave correction before the continuation. Note
A lot of whipsaw at the 50 EMA. This suggests that this could be 1:0.272 3 wave correction. SOL dominance is also printing a shallow ascending channel that looks a bit dangerous. This reduces the chances of a higher retracement for this correctional area. Continuation to the downside may presume from this pivot. 
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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.