$SOL bounced from $67.35 to around $71.9 in the last 24h, but on the 4h this still looks like a relief bounce inside a downtrend that started near $104. Every lower high on the way down left heat behind it.
On the NanoTrading Fire chart the first real ceiling is the stacked bands at roughly $73-77, and price already got rejected near $73 today. Above that the liquidation map has a fat cluster around $82.3 (about $1.02B), then $88.5 and $95.5. Below, the thinner support zones sit at $70-71 and $67-69.
What bugs me is the crowd. Binance futures shows about 77.7% of accounts long (long/short ~3.48) and top traders ~1.89x long, while OI has barely moved, around $647-650M all day, with funding slightly positive. So this bounce isn't shorts getting squeezed, it's longs adding again.
My plan: I only trust $SOL above $77 on a 4h close. If it loses $70 with this many longs stacked, $67 gets retested fast. Would you buy this bounce, or wait for $67 to hold a second time?
Source: NanoTrading Fire chart (nanotradingclub.xyz)
NFA, just my read.
#SOL #Solana #NanoTrading #CryptoMarket
On the NanoTrading Fire chart the first real ceiling is the stacked bands at roughly $73-77, and price already got rejected near $73 today. Above that the liquidation map has a fat cluster around $82.3 (about $1.02B), then $88.5 and $95.5. Below, the thinner support zones sit at $70-71 and $67-69.
What bugs me is the crowd. Binance futures shows about 77.7% of accounts long (long/short ~3.48) and top traders ~1.89x long, while OI has barely moved, around $647-650M all day, with funding slightly positive. So this bounce isn't shorts getting squeezed, it's longs adding again.
My plan: I only trust $SOL above $77 on a 4h close. If it loses $70 with this many longs stacked, $67 gets retested fast. Would you buy this bounce, or wait for $67 to hold a second time?
Source: NanoTrading Fire chart (nanotradingclub.xyz)
NFA, just my read.
#SOL #Solana #NanoTrading #CryptoMarket
