Solana has almost left it's 4hr reaccumulation trading range.
The expectation now, if it is to continue bullish will be a break of structure to the upside,
a short continuation above the BC(buying climax) and AR(automatic rally) before a slow pullback to mitigate the AR area.
If solana achieves these steps we will expect an explosive move from the AR region on the lower timeframes and a large move on the 4hr to at least $144.
We must bear in mind that all of these steps need to occur and that there is no guarantee that the "composite man" will not initiate a sharp move back down into the trading range to shake out more retail.
We also must consider the monthly, weekly and daily possible targets and the supply regions on these timeframes. There are so many factors to consider because so many unmitigated areas and liquidity zones remain below the trading range.
We must be mindful that traps are how the big players take us out so wait for these traps to occur before we enter in line WITH these big players. To be too early or too late is going to be a loss. Watch the institutional candles and enter after the mitigation of these.
Don't chase the pump or you will be the liquidity to fuel their move higher. For now their intention is up once they break this structure upwards. As always, wait for their moves first, keep risk low and remember this is their business and they do not want you to participate. Taking all retail out to fuel their moves is how they play. Always backtest Wyckoff thoroughly before trading it.
The expectation now, if it is to continue bullish will be a break of structure to the upside,
a short continuation above the BC(buying climax) and AR(automatic rally) before a slow pullback to mitigate the AR area.
If solana achieves these steps we will expect an explosive move from the AR region on the lower timeframes and a large move on the 4hr to at least $144.
We must bear in mind that all of these steps need to occur and that there is no guarantee that the "composite man" will not initiate a sharp move back down into the trading range to shake out more retail.
We also must consider the monthly, weekly and daily possible targets and the supply regions on these timeframes. There are so many factors to consider because so many unmitigated areas and liquidity zones remain below the trading range.
We must be mindful that traps are how the big players take us out so wait for these traps to occur before we enter in line WITH these big players. To be too early or too late is going to be a loss. Watch the institutional candles and enter after the mitigation of these.
Don't chase the pump or you will be the liquidity to fuel their move higher. For now their intention is up once they break this structure upwards. As always, wait for their moves first, keep risk low and remember this is their business and they do not want you to participate. Taking all retail out to fuel their moves is how they play. Always backtest Wyckoff thoroughly before trading it.