SOLANA
Bull flag on weekly, but I have my doubts this breaks out unless entire crypto market pivots. Could be merely a technical bounce here both on previous top from last May + bottom of weekly descending wedge. There's decent r/r on a bounce attempt for $100 which is a psychological level as well as where there was indecision (doji) 3 weeks ago.
Scenarios I see from here...
(a) Short term bounce back towards $100 + attempt at breaking wedge
(b) Wedge breakout + $140 test
(c) Chop + markets get bloodier over the next 2-3 weeks and we get some acceleration to the downside, in which we could get some serious capitulation where I'd be a buyer around $20-30 if it hits (flexibile with this)
(d) More blood ASAP, free fall
I think the most likely scenario is to be (c) but there could definitely be a short-lived bull rally, which I would not personally trust continues higher, rather fades and tests the lows here again. I have no position, and am open to any possibility. Just mapping out my thoughts and breakdown here.
Scenarios I see from here...
(a) Short term bounce back towards $100 + attempt at breaking wedge
(b) Wedge breakout + $140 test
(c) Chop + markets get bloodier over the next 2-3 weeks and we get some acceleration to the downside, in which we could get some serious capitulation where I'd be a buyer around $20-30 if it hits (flexibile with this)
(d) More blood ASAP, free fall
I think the most likely scenario is to be (c) but there could definitely be a short-lived bull rally, which I would not personally trust continues higher, rather fades and tests the lows here again. I have no position, and am open to any possibility. Just mapping out my thoughts and breakdown here.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.