SOL had a false breakout from a descending wedge around the $127 price area marked with a horizontal green trend line.This false breakout appears as a bearish ascending wedge, which would eventually break down because there is a fast pace of higher lows and a very slow pace of higher highs, which shows that lots of traders have been looking to short from the $147 price area, which appears to be a major resistance.
I would be entering a short position around the $150 price area, and my TP will be at $130.
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