SOL briefly gained support at the lower edge of the falling channel, and is rebounding and testing at the 4-hour level. The small-level support and resistance exchange is near 185. It is currently testing the retracement after the breakthrough. The bottom of the small-level range is near 175. The overall oscillation range is between 200-175. It is currently near the center of the range. The profit and loss ratio is not high, and the trading value is slightly low.
From a larger perspective, if you continue to short at this position, the profit-loss ratio is very low and the risk is relatively high.
Several locations that need attention
Support position
First position 175
Second position 167
The third position
Pressure position
First position 195-197
Second position 202
Third position 210
Trading requires following the trend, going with the flow and going against it. When the trend comes, you should ride on it. When the trend changes to the opposite, you should be flexible. Fighting against the trend is like a mantis trying to stop a chariot, which will disrupt your mentality and trading rhythm.
The cryptocurrency market is usually in the early morning. Especially with strong correlation to US stocks, friends, please remember to be diligent in taking profits and decisive in stopping losses. There is no point in carrying orders.
If you have any questions about other currencies, please leave a comment.
Personal opinion, please read rationally. Not investment advice.
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