Hello everyone,

Right now I’m a bit uncertain about the current structure of the purple wave B on Solana. Looking at the broader market, Bitcoin appears to have already finished its B wave and could be preparing for a move into wave C. Since SOL often reacts to BTC’s overall direction, this makes me more cautious about entering the market at this stage.

In my view, the current wave B on SOL looks relatively weak and shallow. Based on how Elliott Wave Theory works, this could mean that a stronger downward move (wave C) might follow. Wave C is often more aggressive, so there’s a possibility of seeing a deeper corr$SOL ection before any solid recovery.

Because of this, I’ve decided to stay patient and avoid placing any buy orders for now. Instead, I’ll wait for more confirmation—especially a potential new lower low—which would better support the idea of a wave C playing out. Acting too early without confirmation can increase risk, so observing the market structure feels like the safer approach.

Of course, this is just my personal analysis, and the market can always move differently than expected.

This post is for educational purposes only and does not represent financial advice. Always do your own research (DYOR) and manage your risk wisely.$USDC