I have been a little sceptical across the market with Bitcoin still indecisive in direction, but I can’t help but not see the short term trend direction change on SOL just using basic market structure and fib levels.
With an equal high and higher low put in towards the end of September, it created the perfect set up for a neckline break at 20.5 confirming an uptrend with a new high and we did with a sharp impulsive move to 24.75 and have since pulled back to our discount price between the 50 and 61.8 fib level the same we did on the first impulse.
A third push from here breaking current high will most likely see us hit an overhead equilibrium on the higher time frames at 26.83 so not expecting us to go much further than there in the short term and will most likely see Solana range again for a while until Bitcoin gets violent again.
I have been a little sceptical across the market with Bitcoin still indecisive in direction, but I can’t help but not see the short term trend direction change on SOL just using basic market structure and fib levels.
With an equal high and higher low put in towards the end of September, it created the perfect set up for a neckline break at 20.5 confirming an uptrend with a new high and we did with a sharp impulsive move to 24.75 and have since pulled back to our discount price between the 50 and 61.8 fib level the same we did on the first impulse.
A third push from here breaking current high will most likely see us hit an overhead equilibrium on the higher time frames at 26.83 so not expecting us to go much further than there in the short term and will most likely see Solana range again for a while until Bitcoin gets violent again.