Yello, Paradisers! Are you ready to capitalize on the next big move in SOLUSDT? Let's dive into the details and see what's brewing with this potential breakout pattern.
💎SOLUSDT has formed an inverse head and shoulders pattern, signaling a potential bullish reversal. Currently, the price is flirting with a resistive trendline and a significant resistance zone. A proper breakout here could lead to a substantial upward move.
💎For a confirmed breakout, we need a candle closing above the resistance zone. This will significantly increase the probability of a bullish move. Until we see this confirmation, it’s essential to stay cautious.
💎In the event of a pullback, we can anticipate a bounce from the support level. However, for confirmation, we need to see an I-CHoCH (Internal Change of Character) in the lower time frames. This will indicate that the support is holding strong and the bullish momentum is intact.
💎Be mindful that if the price drops below the right shoulder and the support level, it will invalidate our pattern and the entire bullish thesis. It’s crucial to have a plan for this scenario to manage risks effectively.
Strive for consistency, not quick profits. Treat the market as a businessman, not as a gambler. This is the only way you will make it far in your crypto trading journey. Be a PRO.