SOL/BTC – 4H – BUYThe pair Solana/Bitcoin (SOL/BTC) moves from the ascending trendline downwards
A bearish trend down to the next support level at 0.001939900 will continue.
Caution: A possible change in the direction of the resistance level at 0.002232400 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 0.0018427 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 0.002232400 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Two Crows’ candle pattern is existing. The chart forms ‘Two Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.002550000 |
| 2nd High | 0.002313800 |
| Next High | 0.002232400 |
| Current Price | 0.001984000 |
| Next Low | 0.001939900 |
| 2nd Low | 0.001842700 |
| 3rd Low |