Using STIC indicators v1 and v2 helps identify bullish/bearish flips and potential major or minor corrections. In combination with plotting Elliot wave impulsive and corection waves, we can see that SOL is currently in impulsive wave 2 and corrective wave C, which is pointing to the end of wave 2, as shown here on the lower timeframe:
As long as the bullish...
The STIC indicator tool already indicated "take some profit" alerts on the 4H timeframe.
which will lead to a possible retest of the market flip line (yellow).
As long as the yellow Market Flip Line holds, its bound to bounce to the upside, else, bears takes over.
amazing correction to the 0.618 fib on a 12-hour timeframe.
I'll expect an uptrend here to the next resistance.
My rule is: Always protect your profit.
As indicated by the STIC indicator, we catch the breakout early, and the corrective wave last week, i wil eb expecting a wave 5 to take the price to a a near double top scenario.
As long as price holds able the yellow line, the sentiment is stil bullish.
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A potentin Elliot wave count is in place with price action still trading on wave 3. The candlestick color and Flip line (Yellow) is a major indicator for direct using the STIC indicator.
To long I wil advice a wait to test and hold above the yellow line. this shows a bullish sentiment, else the bear have the say.
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