SOL/BTC – 1H – BUYThe pair Solana/Bitcoin (SOL/BTC) goes from the ascending trendline upwards
A continuation of the uptrend up to the next resistance line at 0.001720700 is likely expected.
Caution: A possible reversal of the trend in the direction of the support line at 0.001649800 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Hammer’ candle chart pattern is found. The candles form ‘Hammer’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Hammer’ going up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.001740400 |
| 2nd High | 0.001739200 |
| Next High | 0.001720700 |
| Current Price | 0.001699200 |
| Next Low | 0.001649800 |
| 2nd Low | 0.001486200 |
| 3rd Low | 0.001479400 |
0.001720700 – 0.001739200 – 0.001536300 – 0.001649800 – 0.001486200 – 0.001479400
Trading Signals: FOREX – SOL – SOL/BTC – BTC – Hammer – Double bottom retreat down