SOL has spent the past two days in and around the Golden Pocket of a Fibonacci Retracement taken from the low of December 23rd 2020 to the high of November 6th 2021.
Naturally I'd expect at least some sort of a bounce above the 0.618 level, but considering how the Golden Pocket is based on a +1 year Fibonacci Retracement, the bounce might take a few days to manifest.
Another point of interest on the Daily chart is a narrow Support Channel ($82 to $78) back from August 2021. Surely that'll provide some turbulence.
BTCUSDT.P
has been in relative side action since January 22nd, and has formed a weak ascending channel since then. It's cruising at the bottom of that channel, it might brave the $36k mark in a day or two. Proceeding from how BTC action is amplified in ALTS, I believe we might see a decent
SOLUSDT.P
bounce.
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
SOLUSDT
SOLUSD
SOLUSDT
Naturally I'd expect at least some sort of a bounce above the 0.618 level, but considering how the Golden Pocket is based on a +1 year Fibonacci Retracement, the bounce might take a few days to manifest.
Another point of interest on the Daily chart is a narrow Support Channel ($82 to $78) back from August 2021. Surely that'll provide some turbulence.
BTCUSDT.P
has been in relative side action since January 22nd, and has formed a weak ascending channel since then. It's cruising at the bottom of that channel, it might brave the $36k mark in a day or two. Proceeding from how BTC action is amplified in ALTS, I believe we might see a decent
SOLUSDT.P
bounce. This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
SOLUSDT
SOLUSD
SOLUSDT
評論:
Support and 0.65, ~0.618 levels reached faster than I expected (if you press play on the 1H chart), but happy to see my general thesis worked out!
