Price is still holding and rejection the long term upward trendline. Also the previous 4H candles tell a story. Small bodies and long wicks, indicating price rejection at the lower levels.
Adding to this, this rejection zone is also the 50-61% fib retracement zone, the usual reversal area seen in most of this cycle.
Of course there is always the opposite side of the trade seen in red. Price has since fallen below the 21EMA, which it had been using as strong support. Sol is definitely weakening, however, until the charts show otherwise, I am still bullish.
Previous analyses linked.
Adding to this, this rejection zone is also the 50-61% fib retracement zone, the usual reversal area seen in most of this cycle.
Of course there is always the opposite side of the trade seen in red. Price has since fallen below the 21EMA, which it had been using as strong support. Sol is definitely weakening, however, until the charts show otherwise, I am still bullish.
Previous analyses linked.
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
