🔥 SOL Parallel Channel Bounce

٨ يناير

SOL has bounced from the bottom support of the parallel channel. With BTC showing strength, SOL can very easily see some strong growth from this point.

With a stop below the most recent lows we can construct a trade with a very decent R/R ratio of 5.5. A more bullish bet would be to wait for the price to touch the top resistance of the channel.

I chose to keep the target a bit closer due to the Bitcoin ETF and the corresponding volatility.