Foreign To another update video about Solana so Solana seems to push Up in five waves so it hasn't done that Yet at the moment the move to the upside Is still in three waves but if it goes Above 1342 then we have to consider this A four sorry a five wave structure to The upside an impulse and it already Looks quite impulsive but if we get that Higher high then we can consider it as a Five wave move which would make me Consider more bullish options for Solana That's why you always get these levels Here if we push above them It normally indicates a trend reversal Um and that we are not going to come Down here at the moment yes it has maxed Out a possible wave too which would Still most likely result in a Wave 3 but We've pushed higher than ideal so we Have moved above the 78.6 percent flip Level at 13 and we seem to be holding Above that level However to make that Prospect of Movements to the upside and maybe that a Low was already in full Solana more Likely we want to see five waves to the Upside At the moment we have only three so at The moment the focus still needs to be Down that has changed for ethereum Already I mean for ethereum the focus is anyway
One of the possible or the likely Scenarios is still high anyway Um but here for Solana the main scenario Was still further down because the Overall context gives us a Target Between 640 and 760 and we need to be Careful not to change those scenarios Too quickly I mean as you know on the Lower time frame They do change quite Quickly because they are quite fragile Markets are dynamic Um but I mentioned to you in a previous Video that until we really get above Where are we here above 13.90 that wave E High which is part of the way four Till we get above that level we can't Really focus on much more bullish Currents but if we get five waves up we Can consider it more Um and um yeah bear in mind on the way Down in this five wave pattern down we Hit with 1090 one of the targets I gave You for that five wave move now we're Turning around and if we see as always If we see a five wave move up off a low Then we can consider a bottom has been Made however Um What is important then is that it holds The retracement okay So Let me show you Um For a bullish
Scenario to work out or for it to be Considered we now need to see five waves Up so it would be a one a two a three a Four and we want to see a fifth wave It can also give you a target for the Fifth wave if we assume the fourth wave Low was in So if we see a fifth wave Then it would need to go to you know one Second to here Ideal targets where it doesn't need to Go there but ideal targets would be 14 That would be nice because then we are Also pushing above the wave e High here Yeah which is at around 13.90 if we Really get there 14 and maybe even 14.80 So 1.618 extension Um even though that would be quite a Long way five but if we get there then It makes it very likely that in the Retracement the higher low will hold at The moment we only have three waves up So it's not ideal but yeah this would be A five wave move up that is what we Would need to see to consider a trend Reversal and don't get me wrong I mean Solana needs to turn around if it Doesn't do it it would just get deeper Into trouble Um But then from these five waves up we can Look at an ABC down This is then what would need to hold so I make a different color here
Or let's call Let's call Blue the bullish count right It's not the primary at the moment But it would mean that those five up That would be a wave one ABC down would Be a wave 2 and let's say we really get To 14 dollars Just to show you already and prepare you If we get there then we need to hold on The way down in a three-way structure The 11.60 level That's the absolute low we need to hold Below that it will make it very likely To break below 10.90 and to then come Down impulsively as suggested yeah so This is currently where we're at and the Key juncture here key decision point for Solana Um again a fifth wave up which it looks Like it's doing to be honest This doesn't mean we have to jump in When we have the five waves absolutely Not because then you're most likely Buying a local high here on the one hour We now overboard yeah so it's always Worth and this is no Financial advice But that's sort of what you would do Historically or no traditionally based On the elite wave method and Analysis And if you're an elite wave Trader you Would wait for the pullback You can go long close to support Because the trend May shift may have Shifted to the upside and you can buy
Close to support in that region that I Indicated between the 78.6 and the 50 FIB level ideally And then you can rally the way in the Wave 3 and trade The Wave 3 which would Be much higher bear in mind just because We see five up here also doesn't mean That we are suddenly going into a bull Run it might mean that we are seeing a Larger corrective pattern but it still Would mean most likely some more upside Yeah so it could very well be that we're Going to see an extended Wave 4 to the Upside which would still come down in a Five but the point is if we see five Waves here we will most likely get a Three wave pullback And at least one more wave five to the Upside or five wave move to the upside So very interesting to watch at the Moment Um But again we are now at the key decision Point and we'll see a decision very soon I think maybe it's a day already bear in Mind there's a lot of volatility Expected today because the fomc meeting Minutes are going to be released maybe Not that much volatility but it Certainly could shake up the market a Little bit okay and that's my update About Solana so hopefully you like the Update if you did please hit the like Button leave a comment and subscribe and
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