Solana has been in a liquidation phase, during the Crypto bull market for the last week or so.
The TSI indicator shows a divergence (TSI1), followed by a very bullish candle with high volume. The price has been retracing back down since the bullish candle but the volume on the downside seems to be weak and does not give me confidence to think that it will continue trending down with great strength. We can also see a volume divergence (V1) on the daily chart.
I would like to see how the price action develops before I place anymore trades and will definitely be holding off placing any short trades until I see confirmation for either direction.
Will keep you all updated as the price continues to develop.
I'm keen to hear your thoughts on my rationale :)
The TSI indicator shows a divergence (TSI1), followed by a very bullish candle with high volume. The price has been retracing back down since the bullish candle but the volume on the downside seems to be weak and does not give me confidence to think that it will continue trending down with great strength. We can also see a volume divergence (V1) on the daily chart.
I would like to see how the price action develops before I place anymore trades and will definitely be holding off placing any short trades until I see confirmation for either direction.
Will keep you all updated as the price continues to develop.
I'm keen to hear your thoughts on my rationale :)