SOL was a BEAR TRAP! (PUMP INCOMING?!)

8 nov. 2021

My Solana long filled at 244 and I have closed my short that I was initially planning to ride back down to at least the $230 range, here's why. With bitcoins convincing break up last night, it seemed inevitable that alts would begin to move. (This was speculative and a bit of an ape move I know but let's look at the market structure for SOL at the moment.) Since my degenerate ape play, SOL has broken beak up into the bearish pattern I identified in my last SOL update with a very very nice amount of volume, indicating what I believe is a momentum shift. This is a high risk trade for sure, I will be watching the charts closely but my stop loss is already in a slight profit on this trade so hey, can't lose. RSI also looks bullish and we are seeing golden crosses begin to form on low time frames.