$SOL is giving us some of the clearest tells right now that this rally is corrective, not the start of a fresh impulse leg.
The overlap is the giveaway. Internal structure doesn't support a clean 5-wave impulsive move, so I'm leaning toward a 3-wave corrective count.
Strength of the move doesn't change that — C waves can rip hard and look impulsive. That's the trap.
RSI is stretched into overbought now as price approaches upper Fib targets. If this read holds, we should see another impulsive leg lower once this correction completes, potentially retracing the entire corrective advance.
Structure over excitement. Trust the count, respect the levels.
The overlap is the giveaway. Internal structure doesn't support a clean 5-wave impulsive move, so I'm leaning toward a 3-wave corrective count.
Strength of the move doesn't change that — C waves can rip hard and look impulsive. That's the trap.
RSI is stretched into overbought now as price approaches upper Fib targets. If this read holds, we should see another impulsive leg lower once this correction completes, potentially retracing the entire corrective advance.
Structure over excitement. Trust the count, respect the levels.