SolanaLong
Mid-Day Update: Getting into the Bottoming Zone
Based on today's trading so far I'm moving our first clue target down from $106 to $103.59. With bottoms, we want to see price act decisively off of support and rally in 5 (micro) waves. Micro analyzing is best done on a 3 minute chart.
We have some support in the area of $99.40 and then $98.60.
A bounce off support, a breach of $103.59 in a micro 5 wave structure and I think we can confidently say we are acting more so like we've bottomed. Until then we await to see what price will tells.
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IMPORTANT NOTE: If we now take out $111, DO NOT SELL EVEN FOR A TRADE. This will move to the upside fast, and with little retraces. YOU'VE BEEN WARNED.
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Best to All,
Chris
We have some support in the area of $99.40 and then $98.60.
A bounce off support, a breach of $103.59 in a micro 5 wave structure and I think we can confidently say we are acting more so like we've bottomed. Until then we await to see what price will tells.
-------------------------------------------------------------------------------------------------------
IMPORTANT NOTE: If we now take out $111, DO NOT SELL EVEN FOR A TRADE. This will move to the upside fast, and with little retraces. YOU'VE BEEN WARNED.
-------------------------------------------------------------------------------------------------------
Best to All,
Chris
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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.