Solana - Bear flag is breaking down! The Bear party is starting!
- The bears are in full control of this downtrend. We are still below the 20 weekly moving average and the bear flag is definitely broken and retested.
- This is not looking good for the SOL coin at all. This structure looks incomplete and we need another leg downward to complete a beautiful impulsive wave.
- Solana started with a strong impulse wave in 2020, which gives us potential for another bull market in 2024-2025 to new all-time highs.
- Another 46% crash is really possible and likely in my opinion. I don't like to be bearish because people generally don't like bearish analysis.
- Crypto is a pump and dump environment. It's not like a stock market with incredible strength and buying power from bankers.
- But I think we can expect a solid pump after we reach my support level.
- 90% of altcoins are just very bearish, and it's hard to make money in a bear market. It is how it is.
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