Market Overview:
The SOL/USDT pair has formed an Inverse Head & Shoulders (H&S) pattern, which is a bullish reversal signal. This suggests a potential upward breakout after a prolonged downtrend.
Key Technical Observations:
🔹 Inverse Head & Shoulders Formation: The structure consists of a left shoulder, head (LL), and right shoulder, indicating a shift from bearish to bullish momentum.
🔹 Neckline Breakout: The price has broken the neckline resistance at 172.19, confirming the bullish setup.
🔹 RSI Bullish Divergence: The Relative Strength Index (RSI) showed a divergence at the head, signaling increasing buying pressure.
🔹 Measured Move Projection: The breakout suggests a potential rally towards higher resistance levels.
Trade Setup:
📌 Buy Stop Entry: 172.19 (Above neckline)
📌 Stop Loss: 163.28 (Below right shoulder)
📌 Take Profit 1: 181.10
📌 Take Profit 2: 190.01
Trading Plan:
✅ If the price holds above 172.19, a long position is valid.
✅ A stop loss is placed below the right shoulder to limit downside risk.
✅ Secure partial profits at TP-1 (181.10) and trail stop loss for TP-2 (190.01).
💡 Conclusion:
A confirmed Inverse Head & Shoulders breakout signals a strong bullish momentum. Traders should look for a sustained move above 172.19 before entering long positions.
📈 Trade smart & follow the trend! 🚀
The SOL/USDT pair has formed an Inverse Head & Shoulders (H&S) pattern, which is a bullish reversal signal. This suggests a potential upward breakout after a prolonged downtrend.
Key Technical Observations:
🔹 Inverse Head & Shoulders Formation: The structure consists of a left shoulder, head (LL), and right shoulder, indicating a shift from bearish to bullish momentum.
🔹 Neckline Breakout: The price has broken the neckline resistance at 172.19, confirming the bullish setup.
🔹 RSI Bullish Divergence: The Relative Strength Index (RSI) showed a divergence at the head, signaling increasing buying pressure.
🔹 Measured Move Projection: The breakout suggests a potential rally towards higher resistance levels.
Trade Setup:
📌 Buy Stop Entry: 172.19 (Above neckline)
📌 Stop Loss: 163.28 (Below right shoulder)
📌 Take Profit 1: 181.10
📌 Take Profit 2: 190.01
Trading Plan:
✅ If the price holds above 172.19, a long position is valid.
✅ A stop loss is placed below the right shoulder to limit downside risk.
✅ Secure partial profits at TP-1 (181.10) and trail stop loss for TP-2 (190.01).
💡 Conclusion:
A confirmed Inverse Head & Shoulders breakout signals a strong bullish momentum. Traders should look for a sustained move above 172.19 before entering long positions.
📈 Trade smart & follow the trend! 🚀
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.
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.