Ever since the bottom hit a couple of weeks ago, we've seen a slight uptrend in SOL and the remainder of crypto. The expectation was that this uptrend would end up being a bear-flag.
With today's price movement that expectation has most likely become reality. SOL is currently on the verge of breaking out on the bearish side of the bear flag. Be patient until the break out is confirmed.
In case of a bearish break out, I'm expecting a re-test of the recent low around $26 at least. Potentially we can move towards $20 or so if BTC drops below $17k.
The area below $20 is a long-term accumulation area for me. Potentially, it can function as a bear-market bottom, but that's still too early to say.
With today's price movement that expectation has most likely become reality. SOL is currently on the verge of breaking out on the bearish side of the bear flag. Be patient until the break out is confirmed.
In case of a bearish break out, I'm expecting a re-test of the recent low around $26 at least. Potentially we can move towards $20 or so if BTC drops below $17k.
The area below $20 is a long-term accumulation area for me. Potentially, it can function as a bear-market bottom, but that's still too early to say.
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