SOL USD Continuation of Ascending Channel
Updated
SOLUSD currently in a confirmed ascending channel after touching the upper trendline multiple times. Here is what I would think would happen, with CPI looming ahead. The below scenario is quite likely.We had massive pumped over the last few days and today we had a confirmed breakout from the resistance at $15. We are looking for a short retrace down to maybe $16 or even to $15 to touch the lower trendline before another big pump to $20 which is the next fib point 0.382.
CPI is something to watch out for SOL, if the news is bullish we likely to see instant pump to at least to $20.
Overall i would say the current sentiment is bullish and we will continue to remain this price for some time, unlikely to drop below $15 anytime soon if CPI comes out good.
Note
Retrace happening prior to CPI data release according to plan. Stoploss set just under $15 as high volatility will happen. Ascending channel is still in play.Note
Profit taken at $24. Congratulations to those who followed. The ascending channel was broken out as well, will definitely need to rechart this. Will share more on new idea on what is next.
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