Everyone is super bullish on SOL, and I have been also, look at my previous post:
But are we still bullish is the question?
We hit a 2.618 on logscale exactly for this top, and thats HUGE. So far we are holding a triangle like consolidation pattern at the top but we are setting lower highs and support has been tested 7 times! This will not hold forever if we keep testing it.
If we have a catalyst event this could cause a strong breakdown after so many attempts.
So what can the cataclyst be in "uptober" where everyone will leverage long like true degens.
- Market data has been proven incorrect and better than expected. What happens if the FEDs announce that they don't need to cut rates? Crypto will absolutely not like this.
- Israel or russia war events can cause huge disturbances to the market
- ??
Am I saying short SOL? No. I'm saying prepare for a possible unexpected turn of events where the entire market is wrong, like always, and you will be prepared.
I for one got 3 big limit orders with the major ones being $69 hihi, and $40. If we actually break down i don't expect $80 to be anything more than a bounce.
But are we still bullish is the question?
We hit a 2.618 on logscale exactly for this top, and thats HUGE. So far we are holding a triangle like consolidation pattern at the top but we are setting lower highs and support has been tested 7 times! This will not hold forever if we keep testing it.
If we have a catalyst event this could cause a strong breakdown after so many attempts.
So what can the cataclyst be in "uptober" where everyone will leverage long like true degens.
- Market data has been proven incorrect and better than expected. What happens if the FEDs announce that they don't need to cut rates? Crypto will absolutely not like this.
- Israel or russia war events can cause huge disturbances to the market
- ??
Am I saying short SOL? No. I'm saying prepare for a possible unexpected turn of events where the entire market is wrong, like always, and you will be prepared.
I for one got 3 big limit orders with the major ones being $69 hihi, and $40. If we actually break down i don't expect $80 to be anything more than a bounce.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.