SOL 🐂: Trap or Reversal?
📈 On the weekly chart, Solana's price action is back inside the triangle again. It's showing a clear rebound after yesterday's and last week's sharp declines.
💥 Today's volume is unusually large, and this buying frenzy has put traders in a dilemma. Is this a "bull trap" or a sign that the market is about to reverse? From my personal perspective, I think Solana may have hit the bottom.
🤔 To be honest, today's closing price will play a crucial role. As people often say, "closing price is very important". I have browsed many posts today, and most of them tend to conclude that this is a bull trap.
🤯 I am currently in a rather tricky situation. The comments of Arthur Hayes, a billionaire in the cryptocurrency world and CEO of Bitmex, are like a waving red flag, suggesting that the market may be about to usher in another round of declines, which he called the "second wave" of the crash.
🎯 If the price of Solana cannot break through the resistance level of $150, then this will undoubtedly be a bull trap. I will pay close attention to further market movements and prepare accordingly.
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