$SOL has spent the last 40 hours pinned around 90 after dropping from 96.5, and the 4h closes are almost flat: 89.3 to 90.7 the whole time. Ranges this tight on a coin this liquid don't usually stay quiet.
What bugs me is positioning. Binance global long/short accounts at 3.57 (78% long), top traders 2.32, funding +0.007%, and OI sitting flat around $837M. Everyone's already leaning long and nobody is adding.
NanoTrading's liquidation radar has fuel stacked right on both edges: ~$17.6M of long liqs at 89.67-89.83 and ~$17.5M of shorts at 90.60-90.75. On the Fire chart heatmap the nearest real bands are 93.2 and 95.8 above, 88 and 86-87 below.
My read: the first sweep is basically a coin flip, so I'm not guessing it. I want a 4h close above 90.75 to look at 93.2, and a loss of 89.6 sends me to the 88 band, where I'd actually want to buy $SOL 🧐
Are you fading this range or waiting for the break?
Source: NanoTrading Fire chart + Liquidation Radar (nanotradingclub.xyz)
NFA, just my notes.
#SOL #Solana #NanoTrading #crypto
What bugs me is positioning. Binance global long/short accounts at 3.57 (78% long), top traders 2.32, funding +0.007%, and OI sitting flat around $837M. Everyone's already leaning long and nobody is adding.
NanoTrading's liquidation radar has fuel stacked right on both edges: ~$17.6M of long liqs at 89.67-89.83 and ~$17.5M of shorts at 90.60-90.75. On the Fire chart heatmap the nearest real bands are 93.2 and 95.8 above, 88 and 86-87 below.
My read: the first sweep is basically a coin flip, so I'm not guessing it. I want a 4h close above 90.75 to look at 93.2, and a loss of 89.6 sends me to the 88 band, where I'd actually want to buy $SOL 🧐
Are you fading this range or waiting for the break?
Source: NanoTrading Fire chart + Liquidation Radar (nanotradingclub.xyz)
NFA, just my notes.
#SOL #Solana #NanoTrading #crypto
