KUCOIN:SOLUSDT Hello everyone 😃 Before we start to discuss, I'll be so glad if you share your opinion on this post's comment section and hit the like button if you enjoyed it!
SOL has formed a falling wedge in 4Hours TF chart, Currently it's moving on the higher trendline. Also there's a formed bearish triangle with bottom flat.
Based on the data we have there're two possible scenarios with positions triggers to look for :
📉 Bearish Scenario : Basically the main formed pattern ( Falling wedge ) is bullish, But so according to our current market's biases; I'm looking for possible Shorts... If we get the closings below Demand zone ( Current blue zone ), Then we can locate our Short and aim for the wedge's lower trendline. -On the continuation of bearish biases, If we get the closing below the falling wedge ( Current formed pattern ), Then we can located our 2nd Short towards lower Support zone at $78.
📈 Bullish Scenario : In other phase of market; There would be more consolidation and so, In terms of any reversal into bias, If we get the closings above our mentioned pattern ( bearish triangle ), Then we can located our Long and aim for the higher order-block at $110. -On the continuation, If we get the break-out above resistance zone, Then we can hold our Long till local S/R Line at $122.8!
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