SOLANA|Trading positions in a BEARISH trend
Hi guys, I hope you had a profitable trading week.
We have an overview of Solana in 4 hours time.
In continuation of the previous analysis we had of Solana, which went exactly as we expected, now we want to have an update on it, to know what process it has taken.
The last trend of Solana has come in the form of a descending channel, which has reacted well to the up and down of the channel, and has taken its own downward course.
On the 4H time frame, we have a supply zone that we saw two good breakouts from.
The upcoming demand area is the price (85-86.5), which we should keep in mind when the price reaches this area, we can enter buying positions with confirmation.
If this area breaks, we can witness further fall to the area of 72.26
We have an overview of Solana in 4 hours time.
In continuation of the previous analysis we had of Solana, which went exactly as we expected, now we want to have an update on it, to know what process it has taken.
The last trend of Solana has come in the form of a descending channel, which has reacted well to the up and down of the channel, and has taken its own downward course.
On the 4H time frame, we have a supply zone that we saw two good breakouts from.
The upcoming demand area is the price (85-86.5), which we should keep in mind when the price reaches this area, we can enter buying positions with confirmation.
If this area breaks, we can witness further fall to the area of 72.26
Guys, see, when I said that you can enter buying positions when the price reaches the demand area of 85-86.5, that's what I meant, and you could easily take a risk/ reward 3.