Solana | 1,2,3 Explained

Solana is great; Another amazing Cryptocurrency project and we are sure to trade this pair nicely on the LONG side (we are Crypto-bulls) once the correction is over.

The correction is now in full-swing and is only getting stronger.

Let's look at it in simple terms: 1,2,3.

1) SOLUSDT peaks, hitting the highest price/level in years.
Reaching a major high point is always a signal for caution. Caution because the trend can end after a major phase. Since we had a bullish trend, it can transform into a bearish trend; a strong correction.

2) SOLUSDT starts to move lower; retrace from a major peak.
The high point is the turning point. The move down becomes the most important factor for us, we are calling this the "initial move."

This initial move tells us what the market is doing.
The market is moving down now...

3) SOLUSDT bounces. We know the initial move is down so the bounce we see on the chart is very likely to end in a lower high, compared to the peak (1) and this is exactly what happened. The lower high can lead to a lower low and thus we expect lower prices.

4) SOLUSDT resumes #1. This is tricky here. There can be another bounce leading to another lower high that would push to a lower low but, there can also be a growth in bearish momentum that pushes prices lower right away, leading to #5.

5) This is our target. Once SOLUSDT stops bleeding around 0.618 - 0.786 Fib., we look for LONG entries, that is, we change our market bias from bearish to bullish. This is the moment we are waiting for.

To be honest, being bearish is boring because we love the Cryptocurrency market and we want to see it grow. But this love will not make us blind; no, we cannot fool ourselves. We acknowledge the fact that we had massive growth and after massive growth a correction always, always, takes place.

After the correction we continue to grow.

👉 We will have a positive year in 2025;
👉 It will be good in late 2024.

Wait for the bottom; I will be here like always giving you the best entries and then we ride the wave all the way to the top.

Thank you for your support my dearest of friends, it is truly appreciated.

I'll you see on the next one.

Namaste.

評論:

Look at this... SOLUSDT:

Today's candle is ultra-bearish and pointing straight down.
Seems like a major crash incoming.

Notice how the price moved below fib (red line) and also the upper wick on the current session.

Prepare.
This can be shorted for fast gains.