Solana Falling Wedge LONG
Here we can see that solana is hitting critical support level (yellow line), where we can expect it to find local bottom and bounce.
Solana has dropped pretty well, like 50% down olnly, coinciding with BTC almost to the point and it has been falling for almost 80 days now. I expect both BTC and Solana create at least a local bounce.
Also Solana is currently sitting on 200 MA, this is the first touch of both support level and 200 ma. add falling parabolic wedge and you can see a local bounce.
Risk is very small, if we break ~130$ with volume Solana can plunge like 50% very fast, so keep it in mind.
Also recently I posted Matic rising wedge short, Idea is in full play and even in a great profit now, I think if Bitcoin pumps, Matic can simply underperform to Bitcoin and Solana outperform, simple as that.
Good Luck!~
Solana has dropped pretty well, like 50% down olnly, coinciding with BTC almost to the point and it has been falling for almost 80 days now. I expect both BTC and Solana create at least a local bounce.
Also Solana is currently sitting on 200 MA, this is the first touch of both support level and 200 ma. add falling parabolic wedge and you can see a local bounce.
Risk is very small, if we break ~130$ with volume Solana can plunge like 50% very fast, so keep it in mind.
Also recently I posted Matic rising wedge short, Idea is in full play and even in a great profit now, I think if Bitcoin pumps, Matic can simply underperform to Bitcoin and Solana outperform, simple as that.
Good Luck!~
Penafian
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