Are you frustrated yet?
Before I begin this Solana chart update, let me encourage you to check out my previous update "Solana to $150 plus?"
In it I list an (ALT) Alternative Count that has Solana completing its 5th wave of the larger 1 with it's next high. Although it's impossible at this juncture to say definitely that this is what will occur, the likely hood is growing each hour.
My Preferred Scenario:
Solana immediately gets going higher and starts to structure the basis for new highs. This is a micro 5 wave followed by a 3 wave corrective structure. Unless this is a leading diagonal within the 3 minute chart, this is currently not taking place. So further patience is needed.
Alternative Scenario:
We breach the low of $120 made yesterday and begin to structure a B and a final C wave for the larger wave 4 down into the $109-$119 area. If this occurs then there's a high likelihood we will only get 1 more high into the $150-$160 area.
In either scenario we should get at least 1 more high into that area. If trading Solana, it makes sense to lighten up your position (Not sell out entirely) in the $150-$160. Doing so will free up resources to scale back in for the price decline of wave 2, or 4. I have repeatedly said to stay on your toes and 4th waves tend to frustrate traders before they reveal their final intentions.
In it I list an (ALT) Alternative Count that has Solana completing its 5th wave of the larger 1 with it's next high. Although it's impossible at this juncture to say definitely that this is what will occur, the likely hood is growing each hour.
My Preferred Scenario:
Solana immediately gets going higher and starts to structure the basis for new highs. This is a micro 5 wave followed by a 3 wave corrective structure. Unless this is a leading diagonal within the 3 minute chart, this is currently not taking place. So further patience is needed.
Alternative Scenario:
We breach the low of $120 made yesterday and begin to structure a B and a final C wave for the larger wave 4 down into the $109-$119 area. If this occurs then there's a high likelihood we will only get 1 more high into the $150-$160 area.
In either scenario we should get at least 1 more high into that area. If trading Solana, it makes sense to lighten up your position (Not sell out entirely) in the $150-$160. Doing so will free up resources to scale back in for the price decline of wave 2, or 4. I have repeatedly said to stay on your toes and 4th waves tend to frustrate traders before they reveal their final intentions.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.