Honestly, SOL is doing even worse than BTC today. I can barely bring myself to look.
I just checked: SOL is at 73.14, down -6.47% today, with a 24h range of 71.84 - 80.50. BTC is only down -4.27%, so SOL has fallen more.
I was sitting there thinking, wait, this doesn't add up. Funding rates are all negative: -0.0021%, then -0.0073%. That means shorts are paying, and there are a lot of them.
But then look at the longs: 78.42% of traders are still long, and large holders are 81.94% long. It's kind of hilarious—there are lots of longs and lots of shorts. So what is the market going to do?
I think there's a good chance it'll flush both sides. First, it'll spike down to wash out the longs, then quickly bounce back and squeeze out the shorts too.
The daily RSI is already at 6.58, with 4H at 17.70 and 1H at 28.59—all oversold. What about volume? Just 0.55x on 1H and 0.77x on 4H. It's Saturday, there's basically no volume; price is just slowly grinding lower.
Large orders are also showing net outflows of 308,124 SOL, -6.83%. The whales are leaving too.
So for SOL today, I have just one plan: a short-term spot trade, small size on Saturday. If it hasn't happened by Sunday at 22:00, I'll cancel everything:
Step one, wait for a stop sweep: first, a brief dip below 71.84, down to around 70.80, to sweep the longs' stops. Just a wick is fine.
Step two, wait for it to reclaim: then the 1H candle needs to close back above 71.84. That's the confirmation.
If both steps happen, then I'll make a move:
Entry: Limit at 71.50, enter with 15%. I'll only use a small position on Saturday, with 1% risk.
Take profit: Sell 50% at 74.38, then sell the remaining 50% at 75.78. I'm not getting greedy.
Stop loss: If the 1H candle closes below 69.90, I'll sell everything with a Limit at 69.70 and take the loss.
If it doesn't sweep and instead the 1H candle closes below 71.84 without reclaiming it, I won't trade.
If it keeps grinding around 73.14, I won't chase it either. I'm not entering at Market.
In short, I'm only waiting for this one setup today: sweep, reclaim, squeeze. If it doesn't happen, I'm sitting this one out. Taking it easy on Saturday, staying in the game, and waiting for Monday.
Are you watching SOL or BTC today? Let me know—are you still holding any SOL?
— Med BHN 7
SOL / BTC / ETH
#SOLUSDT #SOL #Crypto
I just checked: SOL is at 73.14, down -6.47% today, with a 24h range of 71.84 - 80.50. BTC is only down -4.27%, so SOL has fallen more.
I was sitting there thinking, wait, this doesn't add up. Funding rates are all negative: -0.0021%, then -0.0073%. That means shorts are paying, and there are a lot of them.
But then look at the longs: 78.42% of traders are still long, and large holders are 81.94% long. It's kind of hilarious—there are lots of longs and lots of shorts. So what is the market going to do?
I think there's a good chance it'll flush both sides. First, it'll spike down to wash out the longs, then quickly bounce back and squeeze out the shorts too.
The daily RSI is already at 6.58, with 4H at 17.70 and 1H at 28.59—all oversold. What about volume? Just 0.55x on 1H and 0.77x on 4H. It's Saturday, there's basically no volume; price is just slowly grinding lower.
Large orders are also showing net outflows of 308,124 SOL, -6.83%. The whales are leaving too.
So for SOL today, I have just one plan: a short-term spot trade, small size on Saturday. If it hasn't happened by Sunday at 22:00, I'll cancel everything:
Step one, wait for a stop sweep: first, a brief dip below 71.84, down to around 70.80, to sweep the longs' stops. Just a wick is fine.
Step two, wait for it to reclaim: then the 1H candle needs to close back above 71.84. That's the confirmation.
If both steps happen, then I'll make a move:
Entry: Limit at 71.50, enter with 15%. I'll only use a small position on Saturday, with 1% risk.
Take profit: Sell 50% at 74.38, then sell the remaining 50% at 75.78. I'm not getting greedy.
Stop loss: If the 1H candle closes below 69.90, I'll sell everything with a Limit at 69.70 and take the loss.
If it doesn't sweep and instead the 1H candle closes below 71.84 without reclaiming it, I won't trade.
If it keeps grinding around 73.14, I won't chase it either. I'm not entering at Market.
In short, I'm only waiting for this one setup today: sweep, reclaim, squeeze. If it doesn't happen, I'm sitting this one out. Taking it easy on Saturday, staying in the game, and waiting for Monday.
Are you watching SOL or BTC today? Let me know—are you still holding any SOL?
— Med BHN 7
SOL / BTC / ETH
#SOLUSDT #SOL #Crypto
