Hello and welcome to this quick update
'market structure shift' finally happened to Solana, or at least we can hope for it!
The previous lower high is broken and we closed a 4h candle above that level, that is msb! (although I preferred a daily close!)
but, the low time frame support has broken down last night and now we are heading towards that order block above for a bearish retest! (if you are not familiar with order blocks, you find a link that explains it to you at the end of this article.)
My speculation
- because of the market structure shift, my bias is more bullish than bearish
- short-term move should be bearish toward the 12hr demand
- that is also our next and most important support, price should make a higher low there!
- any opportunity for short setups will be provided at the order block, wait to see how PA develops there!
I give you two ideas, 1 short set up at the OB and 1 long set up at the demand
any questions you have, ask me in the comment section <3
don't forget to hit the like button xoxo
'market structure shift' finally happened to Solana, or at least we can hope for it!
The previous lower high is broken and we closed a 4h candle above that level, that is msb! (although I preferred a daily close!)
but, the low time frame support has broken down last night and now we are heading towards that order block above for a bearish retest! (if you are not familiar with order blocks, you find a link that explains it to you at the end of this article.)
My speculation
- because of the market structure shift, my bias is more bullish than bearish
- short-term move should be bearish toward the 12hr demand
- that is also our next and most important support, price should make a higher low there!
- any opportunity for short setups will be provided at the order block, wait to see how PA develops there!
I give you two ideas, 1 short set up at the OB and 1 long set up at the demand
any questions you have, ask me in the comment section <3
don't forget to hit the like button xoxo