SOL - Is Breaking Down?
Hello Everyone. This is an update to my idea "SOL - Will Make a Decision This Week"
As pointed out in the previous post it looked like we were forming a bear flag for SOL. Recently we have broken down from our flag, confirmed the breakdown, then retested our trendline of old support flipped into new resistance. Our measured move would put us back around our low of $16 which is also in confluence with the 1.618. The way this pattern would be negated is if we can close SOL's daily candle today back inside of the flag.
As pointed out in the previous post it looked like we were forming a bear flag for SOL. Recently we have broken down from our flag, confirmed the breakdown, then retested our trendline of old support flipped into new resistance. Our measured move would put us back around our low of $16 which is also in confluence with the 1.618. The way this pattern would be negated is if we can close SOL's daily candle today back inside of the flag.
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