Sol - Successful Retest
Our previous analysis has played out as predicted: https://www.tradingview.com/chart/SOLUSDT/wEYFUbsq-Sol-Breakout-of-Triangle/
We were expecting a retest of our trendline to flip that old resistance into new support and so far it seems to be playing out.
Due to the ETFs it is still important to stay cautious. So although this looks like a great long position if we care to close back below the trendline it is better to get out of the trade entirely rather than to hold onto it. If we fail to maintain above the trendline a test of the $120 range is still in play, but for now things look great.
We were expecting a retest of our trendline to flip that old resistance into new support and so far it seems to be playing out.
Due to the ETFs it is still important to stay cautious. So although this looks like a great long position if we care to close back below the trendline it is better to get out of the trade entirely rather than to hold onto it. If we fail to maintain above the trendline a test of the $120 range is still in play, but for now things look great.
Penafian
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