SOLANA is above the 12 hour value line on an expansion and on the lower timeframe on the trend line ribbon it is now at a downtrend. I am personally entering a short only if it retraces around to the 14.3 to 14.5 area and it rejects that zone only.
Solana doesn't seem to have the best sentiment at the moment and after long pumps to above its value, this dump could possibly take place, it could break this channel and continue lower but I am waiting for a retracement to the resistance of the bearish channel and a rejection.
What is a value line? It occurs when a local contraction (Low institutional volume) happens and generates an average price. And acts like an center of gravity. Whenever its around this level
it then creates an Expansion which violently and with volatility moves it either above or below the value line which shows the sentiment of retail. After this is when you take advantage and enter within a trend that was proven to be valid.
These entries may be rare but are still profitable none the less...
Solana doesn't seem to have the best sentiment at the moment and after long pumps to above its value, this dump could possibly take place, it could break this channel and continue lower but I am waiting for a retracement to the resistance of the bearish channel and a rejection.
What is a value line? It occurs when a local contraction (Low institutional volume) happens and generates an average price. And acts like an center of gravity. Whenever its around this level
it then creates an Expansion which violently and with volatility moves it either above or below the value line which shows the sentiment of retail. After this is when you take advantage and enter within a trend that was proven to be valid.
These entries may be rare but are still profitable none the less...