#SOL/USDT 8h (ByBit) Rising wedge breakdown and retest

SOL lost 50MA and just pulled back to it, looks like it could dump towards 200MA support.

⚡️⚡️ #SOL/USDT ⚡️⚡️
Exchanges: ByBit USDT
Signal Type: Regular (Short)
Leverage: Isolated (2.8X)
Amount: 4.9%

Entry Targets:
1) 103.961

Take-Profit Targets:
1) 73.902

Stop Targets:
1) 119.028

Published By: @TradingOn

SOL #SOLUSDT

Risk/Reward= 1:2.0
Expected Profit= +81.0%
Possible Loss= -40.6%

تم فتح الصفقة:

Entry filled

We could even secure it already, but maybe too early.

تعليق:

Almost hit TP and bounced back, what about securing that short?!

تعليق:

Good thing we stuck to our plan, revisited the entry and got rejected again.
Does not look bullish at all to me, especially with that evening doji star under the Y.O.
At least 100EMA (orange) retest would make sense, at ~$78.5 right now

تعليق:

SOLUSDT.P 2D

SOL made +1500% last year, so a -50% pullback would still be a healthy correction, imo.
Not trying to FUD here, just keeping a clear head while analyzing, no emotions attached.

تعليق:

Trade under water now, but SL held so far and rising wedge is breaking down.