maikisch

maikisch

Today gave us a small glimmer of hope towards the EOD. This chart looks much more defined in the 3 minute timeframe, but I can not seem to post any chart less than 15 minutes so here it is. I can count a micro 5 wave structure off today's low. What needs to happen next is outlined on the chart in arrows. A 3 wave corrective decline without breaching todays low...

maikisch

Today, Solana revealed where we are within our wave structure off the February 24th Bottom. Let me explain. If our wave 3 was going to extend into the next Fib level (2.0 at $155.2225 on the chart) we would have stayed above the 1.236 Fib Level since wave 3 extended past the traditional Fib Level of 1.618 for wave 3 tops. It didn't so we must assume the count...

maikisch

Before I begin this Solana chart update, let me encourage you to check out my previous update "Solana to $150 plus?" In it I list an (ALT) Alternative Count that has Solana completing its 5th wave of the larger 1 with it's next high. Although it's impossible at this juncture to say definitely that this is what will occur, the likely hood is growing each...

maikisch

Let's hold our horses. A breach of $125.86 points to $119 ish. This is now looking more likely than yesterday when I posted. If so, load up....because I expect at Least a breach of $150 afterwards. Patience. 4th Waves are meant to frustrate.

maikisch

It appears we may be over with minor wave iv and $125 ish is all we get. I can now count a micro 5 wave structure off that low. If we can retrace correctively to $128 overnight and may be take out the micro high of $133 ish then we may be on our way to $159.

maikisch

Is $159 next for Solana, or higher? As we complete wave iv of 3 of the larger 1, we have to be on our toes. While I believe we still need a larger 4th and 5th wave up to $171-$195 region... with this pending more high into $159, one can structurally argue we will have a 5 wave pattern in place. Let me explain: RN Elliott explained the basic concept of...

maikisch

Will Solana Make New Highs by Year's End? If we can get this wave "i" and "ii" in and price then breaches wave "i" high I would say it's more than reasonable to conclude that the answer to that question is YES. The attached daily chart outlines the most reasonable pathway under those circumstances. Solana's price still has much to prove before we can conclude...

maikisch

It appears we may (emphasis on may) get a pause in the SOL rally. We need a beach of $133 to even begin to think wave iv has started.

maikisch

Once again we appear to be extending our wave iii. How far can a 3rd wave extend? theoretically....infinitely. RN Elliott only laid down rules for discerning where are within bullish and bearish cycles, the structures they may assume, and price points that cannot be violated within waves. Now, in reality nothing goes straight up forever. However a 3rd wave...

maikisch

I'm starting to feel more and more confident that the 2.618 Fib Extension may be tagged at $159-$160 before wave 1 completion...but will continue to look for clues that a more meaningful decline or a longer consolidation will take place. This type of aggressive extending of wave 3 makes it difficult to asses where this wave will terminate as SOL doesn't react...

maikisch

Early update on SOL. Looks like she's pushing the wave into the next fib as mentioned yesterday at $139-$140. Above $142 next meaningful resistance is $159. Rather than get ahead myself...We're due for a consolidation or a decline of at least several days. We have strong support at $120 $116 and $108. However the way SOL has extended it would not shock me if...

maikisch

Solana may attempt to push wave III into the next higher fib at the $133 level. Any break of $120 will solidly have us in iv...but a new local will have our next resistance in the $133 level before starting wave iv. Shorts not advised.

maikisch Updated 

It appears we are now in wave iv of 1 and should see a decline to the $113-$117 level by tomorrow or Monday the latest before heading to a new local high.

maikisch

I posted this chart a few days ago: "Solana-Chart-Potential-bottom-in-place-II" It touched on trader sentiment and structure...and the importance of SOL price getting above $123 within our current bottoming structure. That happened today. So what's next? We need to fill in waves 4 and 5 of the larger wave 1. That wave 1 top should reside in the area of...

maikisch

Chart attached. Please refer to earlier charts. Questions answered if you follow me.

maikisch

Price action within markets are a fascinating phenomenon. For the most part their counter intuitive to news, current events and the realities of analysts. Case in point, we have the highest inflation in decades, there's a war in Ukraine, Oil prices are the highest in a decade and the stock market and crypto currencies (risk assets) are rallying. Really? That...

maikisch Updated 

Here's a zoomed out view. Once SOL has a 1-2 in place we can accurately project the path price will take. 1-2 should be in place by summer if this is a confirmed bottom. A breach of $77 could point us down to $60. Right now....Bulls are in control.

maikisch

If SOL has bottomed the first clues we will get is a breach of $107, then finally $123. This breach must be a five wave structure as indicated in the chart. This would represent a wave 1 of the larger wave 3 and reside in the area of $140-160 to be completed around the May-June timeframe.