🟢 How to take this entry with SOL 🏦

🏦The chart illustrates a technical analysis of the SOL/USDT (Solana to Tether) perpetual contract on Binance, on a 1-hour timeframe. The chart employs Elliott Wave Theory to predict price movement, with annotations marking the expected waves. Wave 1 has just completed, indicating the beginning of an upward trend. Wave 2, a corrective wave, shows potential retracement levels (highlighted by the green and blue zones), suggesting areas for potential entry points. The price is expected to bounce from these zones and continue to form Waves 3, 4, and 5 in an upward trajectory, reaching targets near $200 and beyond.

🚥To take this entry,

you would wait for the price to pull back to one of the marked retracement zones (green or blue) around the $165-$170 range, corresponding to Wave 2. Entering at these levels aligns with the strategy of buying the dip in anticipation of the continuation of the bullish trend (Wave 3 and beyond). Set stop-loss orders slightly below the lower boundary of the retracement zone to manage risk.

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