$SOL printed a second rejection wick straight into the $114.00 - $115.50 resistance box on the 4H chart, and chasing green candles into that ceiling is giving liquidity away.
A twenty percent rally straight off the $96.50 - $98.00 floor stretched the 4H momentum. When price tags August peak levels with open interest spiking, institutional desks use retail market orders to offload short-term inventory.
My execution plan on this setup:
- Bid Zone: Wait for the rotation back into $98.00 - $100.50 before looking for swing entries. Skip the chop around $111.
- Fade Range: Any 4H relief wick into $113.80 - $114.80 targets $104.50 first, then a deeper slide toward $98.00.
- Hard Stop: A 4H close above $116.20 invalidates the resistance thesis completely. Exit immediately with no second thoughts.
A twenty percent rally straight off the $96.50 - $98.00 floor stretched the 4H momentum. When price tags August peak levels with open interest spiking, institutional desks use retail market orders to offload short-term inventory.
My execution plan on this setup:
- Bid Zone: Wait for the rotation back into $98.00 - $100.50 before looking for swing entries. Skip the chop around $111.
- Fade Range: Any 4H relief wick into $113.80 - $114.80 targets $104.50 first, then a deeper slide toward $98.00.
- Hard Stop: A 4H close above $116.20 invalidates the resistance thesis completely. Exit immediately with no second thoughts.
