Sol SHORT to $125 or lower
Updated
First published idea so give me any feedback/critique
I have my eyes on a lot of alts right now and SOL is the only major one sitting with a flipped ribbon. It was the first one to get set on fire this summer and with AVAX and LUNA making moves now I feel the bears are going to take advantage of this opportunity with Sol. I believe Solana is overall bullish though I think it may take a healthy dip in the coming month. $125 seems like a very healthy support but if that's broken I think we could see as low as mid 70's on a wick then back to 100 then 125 in short time. It's looking really similar to earlier when it was last under the ribbon with similar support structure around the .6 fib
I have my eyes on a lot of alts right now and SOL is the only major one sitting with a flipped ribbon. It was the first one to get set on fire this summer and with AVAX and LUNA making moves now I feel the bears are going to take advantage of this opportunity with Sol. I believe Solana is overall bullish though I think it may take a healthy dip in the coming month. $125 seems like a very healthy support but if that's broken I think we could see as low as mid 70's on a wick then back to 100 then 125 in short time. It's looking really similar to earlier when it was last under the ribbon with similar support structure around the .6 fib
Comment
Looks like we came all the way down to 80 and got our bounce. I think most of the sellers have been bled off and there doesn't seem to be too much leverage out there atm. I see us coming back down to form a double bottom. The Olympics, Superbowl, Rate increase and threat of Russian invasion will be all over within a couple of weeks. I expect a bounce in crypto at that time. But this market is really in a limbo moment.Disclaimer
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