Popcorn time! Interesting 24 hrs ahead for #SOL
On the 4HR 
SOL is reaching the pointy end of the pennant today. :)
The market has respected the trend line down (white) from the high created by the recent trump meme debacle. But it also has a rock-solid floor at $246.4 (purple) that has held three or four times in the past week. Volume has declined but not in a meme-like fashion.
And on the 4hr chart this is playing out as what 'should' be a bullish pennant.
Throw in the imminent 'ETF' noise, whale sightings, and accompanying 'strategic reserve' noise means my technical analysis is that it is all very noisy.
Three options:
BEAR: For some unknown reason ['whales'] the market plunges through it's lower trend-line (pink) and the $240-250 resistance to around $200.
BULL: Any hot-news moment provides impetus for a parabolic up move sendingSOL to $280 (where the short trend upper meets a WK-chart median).
NORMY:SOL ignores all the pretty lines and wiggles along in entropic heat death until actual news which you will hear about when the market ['whales'] spikes/crashes and we have another a collective "WTF?" moment.
Good luck y'all.
SOL is reaching the pointy end of the pennant today. :)The market has respected the trend line down (white) from the high created by the recent trump meme debacle. But it also has a rock-solid floor at $246.4 (purple) that has held three or four times in the past week. Volume has declined but not in a meme-like fashion.
And on the 4hr chart this is playing out as what 'should' be a bullish pennant.
Throw in the imminent 'ETF' noise, whale sightings, and accompanying 'strategic reserve' noise means my technical analysis is that it is all very noisy.
Three options:
BEAR: For some unknown reason ['whales'] the market plunges through it's lower trend-line (pink) and the $240-250 resistance to around $200.
BULL: Any hot-news moment provides impetus for a parabolic up move sending
SOL to $280 (where the short trend upper meets a WK-chart median). NORMY:
SOL ignores all the pretty lines and wiggles along in entropic heat death until actual news which you will hear about when the market ['whales'] spikes/crashes and we have another a collective "WTF?" moment. Good luck y'all.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.