Evening Update: May I have your attention!
WILL THE REAL SLIM SHADY PLEASE STAND UP, PLEASE STAND UP, PLEASE STAND UP.
My attempt at humor...but seriously we all need to pay close attention now.
If there was ever a case for an alternative count, today was a great example. The Blue Count appears to be the one most probable as of now. So, what's next?
First and foremost, all Solana traders should be VERY attentive right now.
This C wave down needs a 4 and 5...so that means a consolidation and 1 more lower low. Preferably into the high $100 range. That will probably happen tonight. NEXT: We need to see a 5 wave structure that eventually takes out $111. Once we take out $111 I can start to dial in upside targets and get pretty accurate.
I have no pathways to post tonight because Solana has NOT bottom in our wave 2. If this rally takes hold then the ultimate target could be as high as $160-$180,,,,but I'm getting ahead of myself. We await clues.
FAQ's?
1) Should I buy Solana now?
YES!!!! If you can stand a stop at $94.70 it makes sense to BUY, BUY, BUY.
2) Why a $94.70 Stop?
If we breach $94.70 then my longer-term count is wrong and we stand a high likelihood of making new lows down to Sub $70.
3) How will we know when Solana has bottomed in wave 2?
The only definitive way is to take out $111. But our first clue comes at $106. That's the micro wave 1 bottom of the C wave down and once price overlaps the impulsivity is gone. Second clue is $109. That's the .786 retracement of the C wave and last real resistance area. At that time the odds have increased so much in favor of bottoming due to past clues, that we now are looking above $111 for targets.
If I missed any potential questions please post them below and I will answer them all. I'll stay online tonight till 9pm EST to answer your Solana questions.
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IMPORTANT NOTE: If we now take out $111, DO NOT SELL EVEN FOR A TRADE. This will move to the upside fast, and with little retraces. YOU'VE BEEN WARNED.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Best to All,
Chris
My attempt at humor...but seriously we all need to pay close attention now.
If there was ever a case for an alternative count, today was a great example. The Blue Count appears to be the one most probable as of now. So, what's next?
First and foremost, all Solana traders should be VERY attentive right now.
This C wave down needs a 4 and 5...so that means a consolidation and 1 more lower low. Preferably into the high $100 range. That will probably happen tonight. NEXT: We need to see a 5 wave structure that eventually takes out $111. Once we take out $111 I can start to dial in upside targets and get pretty accurate.
I have no pathways to post tonight because Solana has NOT bottom in our wave 2. If this rally takes hold then the ultimate target could be as high as $160-$180,,,,but I'm getting ahead of myself. We await clues.
FAQ's?
1) Should I buy Solana now?
YES!!!! If you can stand a stop at $94.70 it makes sense to BUY, BUY, BUY.
2) Why a $94.70 Stop?
If we breach $94.70 then my longer-term count is wrong and we stand a high likelihood of making new lows down to Sub $70.
3) How will we know when Solana has bottomed in wave 2?
The only definitive way is to take out $111. But our first clue comes at $106. That's the micro wave 1 bottom of the C wave down and once price overlaps the impulsivity is gone. Second clue is $109. That's the .786 retracement of the C wave and last real resistance area. At that time the odds have increased so much in favor of bottoming due to past clues, that we now are looking above $111 for targets.
If I missed any potential questions please post them below and I will answer them all. I'll stay online tonight till 9pm EST to answer your Solana questions.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
IMPORTANT NOTE: If we now take out $111, DO NOT SELL EVEN FOR A TRADE. This will move to the upside fast, and with little retraces. YOU'VE BEEN WARNED.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Best to All,
Chris
Clause de non-responsabilité
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