$SOL BULL 🐂 TRAP or POSSIBLE REVERSAL
📊 Solana is back inside the triangle (Weekly chart) and showed a significant recovery after a steep decline yesterday and the entire week before.
As the volume goes big today, the buying spree has put the traders in a dilemma. Is it a "Bull Trap" or possible signs of reversal? If you ask my opinion it looks like Solana has got its bottom.
To be honest everything depends upon the day's closing, as they say "Closing price holds a lot of importance". Saw a lot of posts today with an end conclusion predicting this as a Bull Trap.
I'm in a dicey situation as of now because the statement from Arthur Hayes, CEO Bitmex and notable crypto Billionaire came in as a waving red flag hinting towards another phase of decline which he calls "Second Wave" of the crash.
If Solana fails to break the resistance of $150, it's a bull trap for sure.
So, will wait for fresh buying and being watchful at the moment. Rejection from $150 and I'll get more Sol, if it breaks $150, stays there and keeps holding above this level, I'd still get in. That's how you do DCA and keep on adding.
*This is not investment advice. So your own research before taking any trade.
