Everyone thinks a breakout means it is safe to buy, but actually, you might be stepping right into a trap.
Too many traders jump into $SOL after seeing a green candle, only to watch the price reverse and wipe out their positions. It is painful to watch a winning setup turn into a loss because you missed the critical floor level.
1. Identify the line in the sand. Think of the $73.95 level as the foundation of a house. As long as $SOL stays above this support, the structure remains solid and buyers can target the $78.50 and $82.00 levels in $USDT.
2. Watch for structural damage. If we break below $73.95, the bullish setup invalidates. Selling pressure will likely return, opening the door for a correction down to the $68.40 level.
Are you bidding the support here, or waiting for a deeper pullback?
#Solana #CryptoTrading #TechnicalAnalysis
Too many traders jump into $SOL after seeing a green candle, only to watch the price reverse and wipe out their positions. It is painful to watch a winning setup turn into a loss because you missed the critical floor level.
1. Identify the line in the sand. Think of the $73.95 level as the foundation of a house. As long as $SOL stays above this support, the structure remains solid and buyers can target the $78.50 and $82.00 levels in $USDT.
2. Watch for structural damage. If we break below $73.95, the bullish setup invalidates. Selling pressure will likely return, opening the door for a correction down to the $68.40 level.
Are you bidding the support here, or waiting for a deeper pullback?
#Solana #CryptoTrading #TechnicalAnalysis