Happy Money Monday, Traders!

Hope you find value from this post.

If you did, pls like and consider following.

Here’s a trading idea.

But firstly…

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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
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SOL got rejected by its 35M and retraced back down to $90.

What’s happening next?

If SOL manages to close above $95.90 it will break local market structure from yesterday’s high which could trigger a rebound.

Otherwise, price could continue to dip down towards $85.65 or possibly towards the previous low on the 24th of January at $80.80 to create a double bottom reversal. Further dipping could push SOL down toward the 61.8% of the Trend Based Fib @ $74.33.

If price goes past $123.11, there will be a greater probability of SOL pushing towards the 38.2% FIb @ $149.27, and going past that level could eventually bring SOL up towards $181.06 price target and even towards the Golden Pocket ($191.55 – $197.29).

Stoch RSI (1Wk): Oversold Region, Crossed Bullish .

MACD: Momentum is towards the upside, and if SOL pushes higher then MACD could cross the Zero Level.

Always remember to place your Stop Loss.

Price action is KING!

Patience and Discipline are KEYS to a successful trade.

Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.

Be PERSISTENT and stay PERSISTENT.

Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.

If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.

More power to all your trades, my friends!

Ron
Intrepid_Trader