Solana Breakout
Traders,
As expected, Solana has now broken above the neckline of our inverse H&S, the 50 day, and the 200. This is a great sign for sure but still, caution is warranted until two things happen: the expected pullback on BTC / BTC.D occurs, we understand how altcoins will respond to Bitcoin's pullback.
In Solana's case, I can see it now coming back to retest those three previous resistance areas as support. This may be one area where I look for entry.
Stew
As expected, Solana has now broken above the neckline of our inverse H&S, the 50 day, and the 200. This is a great sign for sure but still, caution is warranted until two things happen: the expected pullback on BTC / BTC.D occurs, we understand how altcoins will respond to Bitcoin's pullback.
In Solana's case, I can see it now coming back to retest those three previous resistance areas as support. This may be one area where I look for entry.
Stew
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
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