SOL/USDT 1H: Bearish Setup with Potential Reversal – Long Entry
SOL/USDT 1H: Bearish Setup with Potential Reversal – Long Entry on Support?
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Current Market Structure:
Market Maker Activity:
Technical Indicators:
Trade Setup (Confidence 8/10):
Risk Score:
Recommendation:
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Current Market Structure:
- Price is at $167.29 in a bearish trend characterized by lower highs and lower lows with a clear distribution pattern.
Market Maker Activity:
- Major resistance observed at $172.50 and support at $165.00.
- Market makers appear to be accumulating at support, hinting at a potential reversal.
Technical Indicators:
- Hidden bearish divergence on RSI at 43.98 versus price action supports the current distribution.
- Volume profile suggests accumulation near support levels.
Trade Setup (Confidence 8/10):
- Entry: Target the $167.50 - $168.00 range (wait for confirmation of a bounce at $165 support before entering).
- Targets:
- T1: $172.50
- T2: $175.00
- Stop Loss: Set at $164.50 (below recent support).
Risk Score:
- 7/10 – Favorable risk-to-reward ratio, though position sizing should remain modest given current
Recommendation:
- Long positions are recommended on a confirmed bounce at support. Monitor volume closely for signs of sustained buying pressure, and maintain tight stops.
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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.
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.