Good day Traders, This is my opinion on Sol/usdt as i have identified wyckoff accumulation on it, price broke the high that created what i named spring ... It seems supply has been defeated and we can be looking for buying opportunity at that point of interest if we see good reaction. This is my opinion i will love to hear yours as well.
Trading is very risky...
This feels fairly possible.
We have a poor low, lot of liquidity rests there.
Given the macro conditions of the world, this becomes quite possible.
Take the liquidity resting below then a big squeeze to ~$160-170 is what I imagine.
Solana has had a spectacular run in the past 2 weeks. However, the price might correct a bit for a pullback as it is near a supply zone.
The XABCD bearish Gartley and Bat patterns had set a supply zone above which the price is struggling to sustain on the weekly chart. As we can see there's a bearish divergence developing on the RSI chart, i.e., the price is...
This descending triangle chart pattern obeys the identification guidelines set for the pattern. At point A, price peaks below the horizontal trendline but few chart patterns are perfect. At point B, price stages a breakout and that results in a swift upward move. Such a strong advance is unusual.
-- Thomas Bulkowski