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SOLBTC trade ideas

Crypto Catastrophe Planning (Sol, Luna and ADA/Cardano)I have spent some time looking at the dollar (DXY, see the linked Idea please) and it has a lot of upside potential based on some simple TA on the monthly time frame. Based on that potential prolonged dollar strength I think some crypto Crypto Catastrophe Planning is in order. Last bear market one of my favorite analysts, Francis Hunte, called his XRPBTC short the gift that keeps on giving due to its continued downtrend trend on the weekly. Of course you don't get the same gains perhaps as being in and out of bounces on XRPUSD but you save yourself a lot of mental energy from the chop up and down that we see below. XRPUSD rallied less than BTCUSD, which means a red day/weeks for XRPBTC, and it dumped more than BTCUSD, which means another red day or week for XRPBTC. An entry within the blue triangle of XRPBTC looking for a break down would have been very profitable for the patient. If we take the same idea for our catastrophe planning we would be looking for structures that we can play technically for entries that could pay out for the next six to nine months, or even longer. Cardano is in a rising wedge with three touches on the support and 2 touches on the top. That gives us a structure to play very technically. SolBTC has popped out of a rising wedge. That is very much blow off top behavior and often we see price action find tenuous support on previous resistance before falling through the wedge. Then price action has a chance to turn previous wedge support into resistance. I have taken a short on ADAUSD due to the weakness I see on the daily chart for both ADAUSD and ADABTC with a stop loss taken at the high. I have two flat topped red HA candles and I will be looking for the wedge break down. If I see the ADABTC wedge breaking down I will put on a ADABTC short SOLUSD is likewise popping out of its rising wedge but hasn't shown the weakens I want for a short just yet. There is a pregnant HA candle so I could go in with a sell stop but Imma hold off SolUSD and SolBTC shorts for now LunaUSD looks very primed for a move to the downside. It is in a rising wedge and has bearish divergence on the 8 hour time frame. Once we see some downward movement we can evaluate if we think it will be prolonged or perhaps continue to chop. I am holding off on shorting for now.
Short
by This_Guhy
Possible scenarios in SOL after a 65% jump in 7 daysIf you find the analysis useful, please like and share our ideas with the community. Any feedback and suggestions would help in further improving the analysis! Quick glance: SOL is currently facing some major profit booking, days after reaching a new ATH. We recently saw a huge bump in volumes. However, since then we saw a slight consolidation followed by a heavy profit booking. Market in the last 24hrs The past 24 hours saw the selloff reducing a bit, as the body of the candle is small. It indicates a bit of indecisiveness. Today’s Trend analysis If we take a look at the Money Flow Index, we can witness that SOL is in the highly overbought territory. It is not exactly sustainable and we are likely to see some profit booking. This rally was impending in SOLANA for a long time as it was in a major consolidation for quite some time. SOL went up more than 65% for the week. A prudent decision at this point would be to wait for a pullback and a consolidation. If after the consolidation, SOL starts rising on the daily, we might look at another buying opportunity. In case it falls again after the consolidation, we would know that SOL hasn’t found support yet and a deeper correction might be pending. Price volatility remained high at approximately 7.26%, with the day's range between $70.33 — $75.44. Price at the time of publishing: $72.80 SOL’s market cap: $21.03 Billion Out of 11 Oscillator indicators, 8 are neutral, 2 are bearish and 1 is bullish. Out of 15 Moving average indicators, 1 is 'NEUTRAL', 1 is bearish and 13 are bullish. Indicator summary is giving a ‘ BUY ’ signal on SOL. Volumes have decreased over the past 24 hours. ---------------------------------------------------------------------------------------- The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24-hour candles. Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume . ---------------------------------------------------------------------------------------- Keep supporting:) -Mudrex
Short
by Mudrex
4
SOL to $200, #SOLANA #SOLBTC #SOLMy dear padawans, First I request you all, not to take this as a piece of financial advice. This is the same content I have previously mentioned above in BTCUSD chart, but according to SOLBTC it has a small difference. Personally, I love the Solana project because Solana can be able to validate 50000 transactions per second, fewer amount fees, and ecosystem technology. I always think Solana should be in the first 4 market capitalization in the cryptocurrency world. I predict something #BNB did before in the past after becoming the most popular ecosystem in the world. Solona blockchain is getting famous and I personally think SOL will be a huge competitor for BNB as well as for Ethereum. Okay, let's see how I predict Solana will go to $200. I just drew fib levels, so I see, Fib Extensions 261.8% 0.0043₿ 200% 0.0036₿ 161.8% 0.0032₿ 138.2% 0.0029₿ 100% 0.0025₿ 61.8% 0.0021₿ 50% 0.0019₿ 38.2% 0.0018₿ 23.6% 0.0016₿ We have to consider many things before entering a trade. This is just a prediction. May the force be with you. Cheers. -@CryptoObi-
Long
by CryptoObi
whatever happens to BTC , SOL is bullish 🌙Hi dears ✋ Hope you all have a good time 😇 well in this chart we have sol/btc which tells us that we have a eliot's triangle pattern done in wave 4 and we expect a breaking out of triangle for sure. so I think whatever happens to BITCOIN the king of all cryptocurrency , IT WILL GO TO MOON 🌙 it has happend before between Apr 14th and Apr 21th and it riesed almost 90 % (I tried to put the image but apparently I can't 😒 you check yourself and because of small wave 3 we have , I expect a expended wave 5 anyway decide yourself . you can wait till the breakout . I don't take any responsibility . It's my opinion it may be wrong Thanks for your attention support me with like, cm and follow ❤
Long
by amirhoseinmlh
Solana V bottom recovery?Only spot trading this one at the moment against BTC (actually miss spot trading some times) I havent been playing a lot of the alt market recently as I have had more luck just trading Bitcoin through all this mess but I do enjoy trading SOL, might be a bias because I trade on FTX alot but I enjoy its price action and volatility, and can normally get some descent set ups on it. Now although im semi bearish on the Crypto market has a whole right now I couldnt help but take this trade from that V bottom and R:R it offered over 7:1 and I got a descent entry off the pull back so happy to sit on this for a while at .5R. I have circled that area at .000946 as the troubled area we need to break through for this trade to continue, if we fail to break this either 1st or second go and there is a lot of bearish reaction there like a big bearish engulfing, lack of volume or wicks to the upside indicating a supply zone It invalidates my trade and ill exit early for small profit and write it off. Breaking this level im happy to sit tight and move my stops into take profit and let it run for a higher target and reassess when we get closer before jumping straight out.
Long
by DeNomics
2