Strong Confluence of Short Signals in Sol
I think crypto is in general in the top of a bear market rally starting off the FTX bust.
I keep seeing posts talking about how "Bear are saying xxx just like they were at the Nov low".
The Nov low was quite obvious. Bad news. Butterfly spike low.
As a bear, let me assure you it's not only people who missed the low that think crypto is a short now.
It's traded right up into the classic retracement levels a downtrend would suggest.
Big decision area now. If we can get higher, then there's a strong case for buying the retest.
Buying crypto where it currently is, I'd give gamblers odds. Might be lucky, isn't a wise move.
I have bears about 70/30 favourite here for 1:4 or more RR. No brainer fade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.