As the market continues to put in some bullish price action, I am keeping an eye on reversal ideas. This SOL-BTC chart shows a pretty strong downtrend that has been respected for almost 2 years.
If altcoins (specifically SOL) has a push higher, it may revisit this market structure and it would be fair to expect another rejection. If this rejection occurs, the first target would be putting in a lower low and revisiting the high from August 2020.
As the market continues to put in some bullish price action, I am keeping an eye on reversal ideas. This SOL-BTC chart shows a pretty strong downtrend that has been respected for almost 2 years.
If altcoins (specifically SOL) has a push higher, it may revisit this market structure and it would be fair to expect another rejection. If this rejection occurs, the first target would be putting in a lower low and revisiting the high from August 2020.
Note: This chart is on a log scale