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GK-ARONNO
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SOL Waiting at the weekly pivot...📈📊
$SOL
SOL has fallen out of the wedge, an interior wave 5 completion structure, which suggests we should see a broader sell off to the next High Volume Node in interior wave 2, $120. It is concerning no new high was made and backs up a deeper correction. This would also meet the ascending the weekly 200EMA.
Weekly RSi is crossed bearish but price remains above the weekly pivot and EMA which is bullish. Direction is ambiguous for now. A push back into the wedge would flip the outlook bullish.
Wave 5 target remains $600 at the R5 weekly pivot.
Safe trading
SOL has fallen out of the wedge, an interior wave 5 completion structure, which suggests we should see a broader sell off to the next High Volume Node in interior wave 2, $120. It is concerning no new high was made and backs up a deeper correction. This would also meet the ascending the weekly 200EMA.
Weekly RSi is crossed bearish but price remains above the weekly pivot and EMA which is bullish. Direction is ambiguous for now. A push back into the wedge would flip the outlook bullish.
Wave 5 target remains $600 at the R5 weekly pivot.
Safe trading
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