solbtc

#Solana #SOL #SOLBTC

I know, I know. I know what you are going to say. That I am always drinking champagne.

Well, maybe or maybe not, but I am only always bullish when the action happens at support.

Here we are looking at Solana vs Bitcoin and I shall explain why this is a mixed bag and why I am bullish nonetheless.

The trading is now sandwiched between 0.618 and 0.786 Fib. retracement levels. Needless to say, since rejection at resistance produced the current chart, and there are several long-term lower highs, we can consider this chart bearish.

Normal, absolutely understandable. But, bullish action always start when prices are low or near support.

Notice the numbers on the chart, 1,2,3. The 1 and the 2 were in the same situation as we are now. In between 0.618 - 0.786 Fib. Bearish but the market turned bullish. Trading volume has gone down to zero but this doesn't reveal a bullish bias, it simply reveals that a strong move will happen next but it can happen to any one side.

Yet, the trend has been bearish based on the lower highs, thus, decreasing volume is a bad signal for the current move which is bearish. It reveals that the bearish move has been losing momentum for years and this in reverse can be read as a bullish signal.

The market is tricky though. A reversal can happen but when?

There can be a crash, just to search for liquidity and then we see growth. There can be growth right away because the action is happening at an already tested and confirmed support.

While there is always risk when making any choice, we buy at support when prices are low. If prices drop, just follow your plan. Some people use a stop-loss, others are ready to wait. What is your plan? How would you approach the market in different scenarios? That is what you need to plan for.

If you ask me, I buy and hold. If prices move lower, I buy more. If prices move higher, perfect, that is a win and I plan to take profits on the way up. This is just one way of course based on spot.

With margin, I enter slow building a position overtime because the market tends to produce as many lows as it can before moving ahead. So I never go 100% in at one time, instead, accumulate slowly with back up funds. If lower, add more. When the market start to move, I just let it run.

Namaste.

✅ Trade here on $SOL

$SOL
I know, I know. I know what you're going to say. That I always drink champagne.

Well, maybe or maybe not, but I am always optimistic when the work happens at support.
Here we are looking at Solana versus Bitcoin and I will explain why this is a mixed case and why I am optimistic nonetheless.
Trading is now confined between Fibonacci retracement levels of 0.618 and 0.786. It goes without saying, since the rejection at resistance led to the current chart, and there are many lower highs in the long term, we can consider this chart bearish.

$SOL

Hey there, Binance Square family! 👋
We're seeing some interesting developments with SOLBTC (Solana/Bitcoin). After a long period of consolidation, a significant support zone has been activated, which could signal the start of a new bullish wave.
What's Happening?
* 300-Day Support Zone: The range between 0.001700 and 0.002000 has acted as a strong support level for SOLBTC for over 300 days.
* Bullish Reversal Signal: The recent drop in price has activated this support zone, creating a potential bullish reversal pattern.
* Higher Low: This recent drop has also resulted in a higher low compared to the previous low in March 2024, which is another bullish signal.
What Does This Mean for You?
This could be a good entry point for long-term investors looking to accumulate SOLBTC. However, it's important to remember that the crypto market can be volatile, and there's no guarantee of profits.
Key Takeaways:
* Long-Term Support: The 300-day support zone provides a strong foundation for potential upward movement.
* Bullish Reversal Potential: The recent drop and higher low suggest a potential bullish reversal.
* Research and Due Diligence: Always conduct thorough research and consider your risk tolerance before making any investment decisions.
Let's Stay Connected!
We'll continue to monitor SOLBTC and provide updates as the situation evolves. Stay tuned to our channels for more insights and trading tips!
Disclaimer: This is not financial advice. Please do your own research before making any investment decisions.
We hope this information helps! 🚀
#BinanceSquare #SOLBTC #CryptoTrading #SupportZone
If you'd like, share your thoughts or questions in the comments below!

#SOLBTC
Golden Cross Sparks Breakout Speculation
Solana (SOL) is exhibiting a bullish golden cross on its SOL/BTC pair, with the 50-day simple moving average poised to cross above the 200-day SMA. This technical pattern has historically preceded significant rallies:
2021: A golden cross led to a 1,900% surge, driving SOL/USD from $13 to $260.2023: A similar setup triggered a 1,000% rebound, lifting SOL from $20 to over $250.
Analyst Ran Neuner emphasized the pattern’s significance, suggesting SOL is primed for a substantial upward move.
Altseason Dynamics Support Solana’s Rise
Golden cross events for SOL/BTC have often aligned with altseason cycles, where capital shifts from Bitcoin to high-beta altcoins:
2021: Solana capitalized on the DeFi surge.2023: Post-FTX liquidity fueled altcoin rebounds.2025: Ethereum’s outperformance against Bitcoin signals renewed altseason momentum.
With Bitcoin halving cycles historically driving capital rotation a year later, Solana is well-positioned for another rally.
Technical Indicators Point to $300
SOL/USD is trading within a broadening wedge pattern, targeting resistance at $295–$300 by October:
50-week & 200-week EMAs: SOL remains above both, reinforcing bullish momentum.Weekly RSI (61): Indicates sustained upward potential.Fibonacci Retracement: Pinpoints $295 as a key breakout level.
A move above $300 could catalyze further price discovery, extending Solana’s long-term bullish trend.
$3 Billion in Treasury Demand Bolsters Case
Institutional interest is amplifying Solana’s outlook:
Galaxy Digital, Jump Crypto, Multicoin Capital: Secured over $1 billion for a Solana treasury fund.Sharps Technology: Allocated $400 million to Solana reserves.Pantera Capital: Preparing a $1.25 billion Solana investment vehicle.
This $3 billion in new treasury demand could constrain supply, supporting a push toward $300.


Outlook
With a golden cross on SOL/BTC, historical rallies of 1,000%+, and robust institutional backing, Solana appears poised for a breakout to $300 in the near term. While short-term volatility remains a factor, the confluence of technical strength and treasury inflows positions Solana as a standout in the altcoin market, per Cointelegraph.
#BTC #BTC

#ALTCOİN is unlikely to repeat its path like in 2024, with forecasts about #Bitcoin and #Ethereum
A widely followed cryptocurrency analyst says that one of the leading tier-one cryptocurrencies may not see another rise like in 2024.
In a new discussion, cryptocurrency trader Altcoin Sherpa tells his 248,700 followers on the social media platform X that Solana ($SOL ) may not achieve the massive gains against Bitcoin (#SOLBTC ) on the weekly chart as it did last year.