https://www.tradingview.com/chart/UbSMwcEN/?symbol=COINBASE%3ASOLUSD
Hoping for a reversal of the bearish trend to challenge levels back into the descending channel. I have created 2 parallel retracements within a the descending channel to provide a good snapshot of good buy zones. When i say good buy zones i mean for DCA levels…
We are still in a bullish crypto cycle but a pullback to the 80 levels for BTC is still possible. I’m not overally phased by this and wouldnt mind it to be honest for a flush out.
Yellow trend lines are now broken support levels and i just want to keep an eye out of what happens next to those levels, if they now turn into resistant levels but overall still expecting a consolidation phase now before another move up.
This won’t be a quick reversal, there is also heavy resistance at the 247 and 264 levels.
Short term i’d like it to first jump into the 26-50th area in the descending channel then try break the 206 level which is the next level of resistance to break.
*non financial advise.