SOL has broken below the 50-day EMA, well below the 200-day moving average, indicating a bearish trend in the medium to long term; a head and shoulders top has formed on the daily chart, with the low-volume bounce serving only as a continuation of the decline, not a reversal.
Oil prices rising and cooling expectations of rate cuts are pressuring risk assets; major players lack willingness to push prices higher, bounces lack sustainability, arrange short positions around highs.
Suggested to set up shorts in the 89-91 range, with targets at 85-80, stop loss at #Gate13周年全球庆典
SOL has broken below the 50-day EMA, well below the 200-day moving average, indicating a bearish trend in the medium to long term; a head and shoulders top has formed on the daily chart, with the low-volume bounce serving only as a continuation of the decline, not a reversal.
Oil prices rising and cooling expectations of rate cuts are pressuring risk assets; major players lack willingness to push prices higher, bounces lack sustainability, arrange short positions around highs.
Suggested to set up shorts in the 89-91 range, with targets at 85-80, stop loss at #Gate13周年全球庆典