SOL 1H: potential ABC correction with a flat inside wave B
I am looking at SOL on the 1H timeframe as a possible corrective structure, where the current move may be developing as an ABC correction. The key idea is that wave B itself may have formed as a flat, which makes the structure look more complex and less obvious.
This is not financial advice. The wave count is only a working scenario, not a guaranteed outcome.
I am looking at SOL on the 1H timeframe as a possible corrective structure, where the current move may be developing as an ABC correction. The key idea is that wave B itself may have formed as a flat, which makes the structure look more complex and less obvious.
- Main scenario
After the previous upside move, SOL may have entered a corrective phase. In this view, the first part of the decline / sideways movement can be counted as wave A, while the current recovery may be part of wave B.
The important detail is that wave B does not have to be a simple three-wave move. It can develop as a flat: A-B-C inside wave B. This explains why price can retest or even slightly exceed local highs, then return back into the range and make the structure look confusing. - Why this looks like a flat in wave B
- The move does not look like a clean impulse.
- There are overlaps, pullbacks and a complex internal structure.
- Wave B may have exceeded the previous local high, which is possible in an expanded / running flat.
- After such a B wave is complete, wave C often follows with a more directional move.
- What I am watching next
If the ABC correction scenario is correct, then after wave B is complete, the market may start wave C. In that case, I will be watching for rejection near the local highs and for a clear 5-wave structure to the downside.
Potential downside areas of interest:- 75.7 - 73.9
- 71.4 - 70.0
- 68.5 - 67.3
- 65.7 - 63.6
- Alternative scenario
If SOL accepts above the 81.1 - 82.2 area and does not show strong rejection, then the B-wave correction idea becomes weaker. In that case, the market may be shifting into a more bullish continuation scenario, with potential upside toward 85 - 86 and higher.
My main idea here: as long as the structure remains overlapping and corrective, I do not want to treat it as a clean impulse too early. The working scenario is an ABC correction, where wave B may have developed as a flat. Confirmation should come from price reaction around the key levels, not from the count alone.
This is not financial advice. The wave count is only a working scenario, not a guaranteed outcome.
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La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
