SOL - Are these moves big enough
SOL is facing some market indecision and is at a fib retracement level of the 382 after hitting the .618As often seen in the market price retracts in search of liquidity and confirmation of support.
we have a long legged Doji candlestick on the Weekly close that is showing market indecision and could indicate an end to the downward momentum. We need to confirm this before we can be sure of this reversal and are watching for support to be found on the 382.
Barring support being found we will see price go lower into the accumulation price area and we must confirm the trend reversal before entering a trade.
If we can setup the trade and catch the reversal we could see anywhere from 20% to 40% returns on a day position and may want to look towards entering into a 30 day long at this point as well for even larger possible returns as SOL could be in the 170 area in a month if we break out of the overall larger downtrend
Catatan
Trend reversal appearing on 1 H , waiting for confirmation on 4 H before establishing positions
for long on SOL.
apparently there is alot of hype around BTC and the month of October that could invigorate bullish sentiment going into the elections in November in the USA
Catatan
next stop the THE .236
we are following price down to retest support levels and could see price fall to the accumulation zone as supply is sold and liquidity is sought
Catatan
Catatan
sol needs to produce a higher high or a higher low to indicate a potential reversal. It appears to be testing lower until we bottom out on the channel or find support
Catatan
https//Sol may be reversing, will have to confirm with indicators and close of the4h
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