SOLANA is showing signs of reversal with bearish weekly divergence. It already has made a cup pattern with potential downside is possible for completing the handle. Potential downside target based on fib level is between 82$ to 65$ at 50% to 60% respectively.
*******Trade Plan******
Take Entry @ Daily TF as soon as HL broke
Stop Loss @ Top
Take Profit 1 @ Fib...
SOLUSDT shows a bearish bias considering:
(1) Bearish Divergence at 1H TF
(2) AB=CD Pattern showing price at reversal
(3) Double Top reversal pattern.
*** Trade Plan ***
(1) SL at Higher High
(2) Entry at previous Higher Low
(3) TP1 and TP2 at 1:2 risk to reward ratio.
What do you think guys, will it work?
Note: Crypto is high risk market. If you are not...
12h time frame
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SOL creating a rising channel or could be called as bearish flag, it just hit the channel top and got rejection. Also, there were two times SOL hit the upper uptrend line, and both got further dump. Both dumps satisfied 0.707~0.786 Fibonacci Retracement, so we can set target at the potential Fibonacci level around 20.5~23, this trading provides...
The price seems to be heading towards the weekly support WS1. It has lost important support levels and the next good support is the weekly support WS1. Therefore, it seems logical and probable that the price will head there before finding any meaningful support and bounce. A long definitely will be favorable once price reaches WS1 as there should be good enough...
Here is an LTF view of SOLUSDT. The price is trading rangebound between hourly support and resistance. This hourly resistance is a bit above the weekly resistance one WR1 which has held the upward movement of the price experienced in the past few days. The price has hit the hourly support several times only to bounce from there and has reached to the hourly...
This one has reached to the weekly resistance WR1. I expect the price to retrace here. This weekly resistance is a strong one and can hold the price back. The next supports are 4h support 4HS1, daily support DS1 and weekly support WS1. I expect the price to retrace at least to 4h support 4HS1 and probably to daily support DS1.
