colinallison

colinallison Updated 

Macro backdrop: 1. Fed has signaled no rate cuts this year = less liquidity for risk/growth assets 2. DXY looks ready to rise = softness for dollar alternatives i.e. BTC & Gold 3. Geopolitical tensions & risk of war leading to uncertainty Bearish Chart Evidence: 1. 3 consecutive lower lows 2. Upside channel break 3. RSI below 50 4. MACD Convergence 5. Volume...

colinallison

SOL has formed a channel grinding higher. Expecting a quick drop to $163-$167 before bouncing up to $200-$210. The safest play is to not short the drop, but wait for the bounce and go long after the RSI & Money Flow Indicator trend upward again.