2021-04-09 13:35:26
#SOLUSDT
First of all you have to note it's near a resistance which may reject SOL to $17 levels, so make sure to check your position, if you have any. you can use previous highs on lower TFs as new SL as price goes up.
Then if it does start a correction here, it will most likely test around $17 levels as mentioned. and due to strength of the base we should see another pump toward highs made in this rally. If this correction is supposed to happen it will start with a relatively strong rejection from 0.618 fib level (It's fib projection of previous alternating wave).
otherwise, if the level which is also top of parallel channel shows weakness, then price should break up and continue to top of the other channel.
If either one of these happens the whole move from $1 can be considered as a Diametric pattern. the correction of this pattern should be larger than the corrections we see in the current rally. maybe at least about 70% correction from top, which ends to around $15. It depends a lot on how it starts really. so we should see what happens for now.
https://www.tradingview.com/x/gmgSj9dw/
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