$SOL Yesterday, price touched 85.8 twice, but neither counted as a breakout.
The 4-hour candle that closed at 16:00 yesterday reached a high of 85.29 and closed at 84.75.
The one that closed at 20:00 reached a high of 85.80 and closed at 84.76.
Both times, price touched above 85.05, but both candles closed below it.
A wick touching the level doesn’t count as a breakout; the closing price has to hold above it.
SOL is around 83.1 now, still some distance from 85.05. On the downside, 81.27 is the other key level.
Same story with BTC: yesterday, the 4-hour candle that closed at 20:00 finished at 74,337, above 74,000.
But the next two candles closed at 73,928 at 00:00 and 73,710 at 04:00, turning 74,000 back into a ceiling.
Getting above it once doesn’t count; holding above it on the next candle does.
So my SOL plan is still the same as yesterday—not a single word has changed.
To the upside: if a 4-hour candle closes above 85.05, the entry zone is 85.05–86, with TP1 at 88, TP2 at 90, and a stop-loss below 83.5.
To the downside: if a 4-hour candle closes below 81.27, the entry zone is 81.27–80.5, with TP1 at 80, TP2 around 77.5 based on the range height, and a stop-loss above 83.5.
In the middle, jumping in as soon as price touches a level is just handing money to the wicks.
BTC is around 73,690. This morning’s plan to wait for 75,000 hasn’t changed; if it doesn’t get there, I’m staying put.
Initial jobless claims are expected to come in at around 195,000 tonight at 21:30. Friday at 08:30, October PPI is the next catalyst.
Do you usually enter as soon as price touches a level, or wait for the candle to close for confirmation?
This is my personal opinion and not investment advice. Follow me for my first take after the data comes out.
The 4-hour candle that closed at 16:00 yesterday reached a high of 85.29 and closed at 84.75.
The one that closed at 20:00 reached a high of 85.80 and closed at 84.76.
Both times, price touched above 85.05, but both candles closed below it.
A wick touching the level doesn’t count as a breakout; the closing price has to hold above it.
SOL is around 83.1 now, still some distance from 85.05. On the downside, 81.27 is the other key level.
Same story with BTC: yesterday, the 4-hour candle that closed at 20:00 finished at 74,337, above 74,000.
But the next two candles closed at 73,928 at 00:00 and 73,710 at 04:00, turning 74,000 back into a ceiling.
Getting above it once doesn’t count; holding above it on the next candle does.
So my SOL plan is still the same as yesterday—not a single word has changed.
To the upside: if a 4-hour candle closes above 85.05, the entry zone is 85.05–86, with TP1 at 88, TP2 at 90, and a stop-loss below 83.5.
To the downside: if a 4-hour candle closes below 81.27, the entry zone is 81.27–80.5, with TP1 at 80, TP2 around 77.5 based on the range height, and a stop-loss above 83.5.
In the middle, jumping in as soon as price touches a level is just handing money to the wicks.
BTC is around 73,690. This morning’s plan to wait for 75,000 hasn’t changed; if it doesn’t get there, I’m staying put.
Initial jobless claims are expected to come in at around 195,000 tonight at 21:30. Friday at 08:30, October PPI is the next catalyst.
Do you usually enter as soon as price touches a level, or wait for the candle to close for confirmation?
This is my personal opinion and not investment advice. Follow me for my first take after the data comes out.
