Descending Triangle
Updated
After a Strong Uptrends, SOL Starts to pull back from SEP 9, and the pattern continues.
In 4H chart, it looks like a Descending Triangle is forming, trading volume is going down, which means the DOWN trend will continue.
This pattern will complete once close below the Lower Line, about 150 level.
It's very important to monitor how the market reacts to the upper line, cause this pattern might continue to end of September.
If the resistance broken successfully, a reverse bull market might happen like GREEN arrow shows.
But Right now, I see more Bearish market possibilities.
Be prepared for the 142 support level tests.
In 4H chart, it looks like a Descending Triangle is forming, trading volume is going down, which means the DOWN trend will continue.
This pattern will complete once close below the Lower Line, about 150 level.
It's very important to monitor how the market reacts to the upper line, cause this pattern might continue to end of September.
If the resistance broken successfully, a reverse bull market might happen like GREEN arrow shows.
But Right now, I see more Bearish market possibilities.
Be prepared for the 142 support level tests.
Trade closed: target reached
AS 4h chart shows SOL reject 150 level and continue down trend.Today it pulled back some and forming a RISING WEDGE pattern
It will try to break previous 150 level, unless it successfully break without following pull back, to return up channel, more likely I think it will continue Down trends.
Because even right now in 1 hour chart it is going up but the VOL is going down against the trend. be prepared more BEARISH coming.
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