Hello everyone, I am Qi He. Tonight, the red K-line of SOL on the computer screen, does it make you feel anxious? Binance hit a new high, so why did the SOL in your hands drop by 2 points and is now stuck at 121.3? Don't worry, I will explain it clearly to you now.
News analysis:
Although the price of Bitcoin looks nice, the reality is harsh; funds are fleeing! Last week, 952 million USD left the market, indicating that large institutions and smart money are getting ready to leave. ETH, SOL, and ADA are all dropping together; this is certainly not a coincidence.
Technical analysis:
Looking at this 4-hour chart, everything is clear. A few lines draw out the cage: above, 130 is the range pressure, and 136 is the iron top. Below, 125 and 123 are two layers of thin wooden boards, while 115 is the concrete floor. The current price is 121.3, perfectly stuck in the middle, unable to go up or down, uncomfortable!
The most crucial thing is the small line below: 'MACD yellow and white lines remain below the 0 axis.' What does this mean? To put it simply, it's like a car's engine; not only is it lacking power, but it is also dragging backward with the brakes. The friend of the trend is the bear; rebounds are opportunities to run or for the brave to short.
What should current players do? Here’s a step-by-step guide:
For those heavily invested and trapped: If there is a rebound approaching the 125-126 area, consider reducing part of your position to lower your cost and regain control. You need to have bullets in hand to strike hard when the next opportunity arises.
For those with light positions wanting to bet on a rebound: Be patient and wait for a truly stable rebound position. It’s best to wait for it to first touch near 115 and show obvious weakness in the decline, with long lower shadows or bullish patterns, before testing with a small position.
The most important point, no matter what you do: Be sure to set a stop-loss! For short-term rebound plays, set the stop-loss just below the entry point; if you are holding a position, find me for specific stop-loss points.@链上绮禾 .
Qi He's personal opinion: The script is very likely to unfold like this tonight.
I'll answer your most pressing question directly: Can we reach 130 tonight?
It's difficult, very difficult. The 130 level now seems out of reach. In a bearish trend, each rebound is just to facilitate a better drop. Currently, I don't see the strength to break through the two layers of heavy pressure at 125 and 130.
Will it drop to 123 or even 115?
The possibility is greater. The critical level at 123 is just around the corner; a little push from the bears can make it touch. If 123 cannot hold, market confidence will collapse, and looking towards the target of 115 becomes a natural consequence. My judgment is that from tonight to tomorrow, we will likely first test the support strength at 123.
I am Qi He, a blogger who only wants to speak the truth and share valuable insights. The market is very cold, but we can huddle together for warmth. Click to follow, join us, and let's wait for and seize the opportunity that belongs to us!Chat Room
