Foreign [Music] Welcome to another update video about Solana my view about Solana remains Unchanged Um we have come down here in a five wave Structure one two three Four five yeah Wave 4 might still be Ongoing wave 5 not yet started but this Depends a little bit so at the moment it Could also be that the Wave 4 was Already in here and the way five was Complete here that a low is already in But I don't really believe that it would Have to be some kind of a well truncated Low double bottom Um well it's not really truncated it was Slightly lower than the previous one Here but the price action that has Followed since the low is everything but Just not bullish not convincing it looks Very corrective still I'm starting to Think is all of this just a triangle in A fourth wave yeah this makes sense in My opinion at the moment I had it as a Wave a then a wave B down but the wave C Is not following through at all so what I'm going to do I'm going to explore the Possibility now of the Wave 4 being a Triangle I think this is not unlikely I'm going to look at this possibility For Bitcoin ethereum and maybe Ada as Well but I think there the count isn't That clear like a triangle but here it
Would look like wave ABC is a wave a Three wave structure then we had a wave B here then this might have been the Wave C we're going to see a d wave down And an e wave up Um this could of course extend out a Little bit further I mean this could Still push higher and the wave C might Need to move as long as it stays below The a wave which you see at 18.70 we can Um we we have to be a bit flexible here With a triangle count triangles are Always very very difficult structures Because they can change shape and so on Um but yeah overall I mean we can draw Here a trend line of course we only have Two touch points here yet but let's see If the price is going to follow it it's Going to adhere to it Um it's not very very well defined Triangle but the count Allows it because we're not really Following through to the upside we're Not following through to the downside Um and that would eventually mean this Count that the Wave 4 will be in where The E wave is in and then the move down Would be in a wave five now that's one Possibility with triangles you know you Can get it the other way around as well There would just be a slightly different Count Um it would suggest that Wave 4 is not Finished yet and then we would say okay
We've seen here [Music] Um An a wave to the upside this is now a b Wave the wave B is Maybe the triangle right Um let's see And then there should be a wave C up so It's possible as well and that's why Triangles are so so difficult because The B wave itself could be a triangle But it's way too early to say that so we Have here with a b c d e and would then Break to the upside that's why it's so Important to just sometimes just wait a Little bit be a bit patient drawings are Extremely difficult to count they can Move in different directions here very Clearly I mean this is what the chart Entails The chart includes the possibility that We will move up and extend the Wave 4 a Little bit higher and then come down in Five Or that we go down basically straight Away but the point is here As I as my view is with am Bitcoin and Ethereum as well that we will push Higher once more this is not unlikely For Solana even though Solana uncoupled A little bit decoupled a bit from the Others recently but the very important Message of this this video is as well That there is not really any let's call
It bullish price action there isn't Really a strong sign that a bottom is in Already and as long as we don't really Have that I have to focus more on the Downside so Lana would need to do a lot To convince me I would want to see Solana Um at least to move above the 33 level to convince me that a low is in Yeah that would be the 78.6 retrace but Of course we can make assumptions Earlier but for that we need to see a Clear impulse to the upside which we Don't see yet so we want to see five Waves to the upside at the moment we Don't have that we only have three waves Up Um and yeah at the moment I'd be very Careful here with Solana this this may Recover this probably will recover but Of course I don't know you know Um that's the problem with altcoins just You know you know my view is always with Altcoins we need to be Diversified not Really be have too much exposure to one Single altcoin and I think this strategy Is quite relevant especially at the Moment at the moment there is no clear Bullish signal yet and to the downside We talked about its support ranges or Levels around ten dollars and then five Dollars should we make a new low then These will be the levels where we have Another chance for a reversal okay
That's my update about Solana hopefully You like the update if you did please Hit the like button leave a comment and Subscribe and if you really like the Content then please check out the Channel membership thanks a lot for Watching bye [Music] Thank you