Hi guys,
As you can see on the chart, I checked Solana's FIB Channel in the previous two bullish cycles, interestingly the final target in each cycle was at the 2.618 Fibonacci level. Also, the final high in each cycle was only slightly different from the measured FIB level. Based on this, I drew a FIB Channel for Solana's third bullish cycle, which shows a technical target of $496.27 at the Fibonacci level of 2.618. Obviously, to reach this target,
SOL needs the help of 
BTC to continue the uptrend.
Therefore, if Bitcoin's uptrend continues andBTC climbs above the $50,000 level, we can expect Solana's amazing uptrend to continue and not only repeat the previous ATH, but SOL will reach a new ATH. But if the uptrend of Bitcoin stops at the resistance level of $47,000 and BTC falls below $40,000, Solana's technical target will be invalidated at the Fibonacci level of 2.618 in the third cycle.
Also, Solana's RSI is now at 89, which is close to Solana's ATH range at 97, which is a serious warning for users to save profits and avoid greed.
Obviously this is not a financial advice & remember to do your own research.
Please "Like" & "Follow" if you want to see more of these ideas.
Wish you all a Merry Christmas 🌲🎅
Goodluck
As you can see on the chart, I checked Solana's FIB Channel in the previous two bullish cycles, interestingly the final target in each cycle was at the 2.618 Fibonacci level. Also, the final high in each cycle was only slightly different from the measured FIB level. Based on this, I drew a FIB Channel for Solana's third bullish cycle, which shows a technical target of $496.27 at the Fibonacci level of 2.618. Obviously, to reach this target,
SOL needs the help of BTC to continue the uptrend.Therefore, if Bitcoin's uptrend continues and
BTC climbs above the $50,000 level, we can expect Solana's amazing uptrend to continue and not only repeat the previous ATH, but SOL will reach a new ATH. But if the uptrend of Bitcoin stops at the resistance level of $47,000 and BTC falls below $40,000, Solana's technical target will be invalidated at the Fibonacci level of 2.618 in the third cycle.Also, Solana's RSI is now at 89, which is close to Solana's ATH range at 97, which is a serious warning for users to save profits and avoid greed.
Obviously this is not a financial advice & remember to do your own research.
Please "Like" & "Follow" if you want to see more of these ideas.
Wish you all a Merry Christmas 🌲🎅
Goodluck
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。