#Altcoins #SOL ✴️ Solana: Going Up vs Going Up (6X Short Incl.)
There are two ways to see prices going up:
1) Going up within an uptrend, this produces and advance.
2) Going up within a downtrend, this ends in a new drop.
1a) The first going up, bullish, always tends to end in a higher high compared to a previous price peak on the chart.
2a) The second going up, bearish, tends to end in a lower high compared to previous price peaks on the chart. Sometimes the second going up can produce a higher high in the form of a double-top before resuming to produce a new drop.
➖ Between October 2023 and March 2024, we have the first going up. A bullish impulse and this produces an advance. Higher highs with each move.
➖ From the March peak SOLUSDT produces a drop that ends in April 2024. There is a going up here of the second type, the move ends in a lower high and produces a new drop.
➖ There is another low set in August and the current going up is of the second type, within a lower high with really low volume. After 87 days of bullish action we have no new highs. For Solana to produce a new high here it needs to grow by an additional 10% or up to 20% if we count the bigger chart structure.
I am bearish on Solana because of this dynamic and a low volume rising wedge. Bitcoin just hit a new high but not one of these pairs are moving ahead.
➢ When Bitcoin peaked in March, everything was booming; this is a bullish impulse, a strong advanced.
➢ When Bitcoin is peaking today, everything is dead; this is bull-trap before a crash event.
This is the last call, here you have the full trade-numbers for SOLUSDT with 6X.
✴️ Solana PREMIUM Trade-Numbers Pt. 2, 6X SHORT—378% Potential
tradingview.com/chart/SOLUSDT/…
The trade-signal hit one target and moved back to entry price. The numbers are good now.
Thank you for reading.
Your support is appreciated.
Namaste.
