Foreign Video about Solana Solana yesterday did Break out of this descending channel did A bit of a rally all the way up to 15 so We observed that during the live stream Yesterday Um which happened before the FED Interest rate decision So we had a spike in in many crypto Charts or many crypto charts Bitcoin was Rallying a little bit uh ethereum was Solana was as well many cryptos didn't But also then you know we bought we we Moved exactly exactly to that key 15 Level yeah and that is the level we Talked about we've been talking about Now for for a few weeks And um It has basically created a well a simple Double top here or even triple top you Could call it right with one two three Touch points up here at the 15 level and Not without reason I gave you the 15 Level as a key breakout point and I said Just in the last video that this is Still possible because we are in a Range That honestly we could still be in a b Wave yeah Um this is still possible or even in an X-wave if Um if we want to call it like that but There's nothing telling me that you know Why couldn't this be an a wave down here All of this is a b wave
And we could still come down once more And see this is possible as long as we Stay below that 15 level I mean even Above that you can get overshooting with Bees and crazy stuff but it obviously Will get less likely That is still the wave B if we break Above that 15 level so this could all Still just be a corrective pattern and To be honest Also the move of of the low for me that Seems very much like a three-way Structure Yeah so basically an a oops a B c wave here so it's not it's not very Convincing it could have obviously be a Leading diagonal yeah but I think it's Just important to look at the moment at These breakout points the 15 level is Critical so my view is at the moment I Mean I could I could just leave the Count as it was yeah looking at the W X Y Um Here where it's bottomed in this channel At around 12.80 then we could possibly Be a bit hopeful now that this could Have been a wave one of wave three here But it is not high confidence until First we see a clear clear impulse for Me this was not a clear impulse so it's Not in my opinion a great signal and we Need to break above that 15 level so Until we do that any upside could be Treated as corrective as I mentioned in
The last videos and we just need to be a Bit patient until we break that 15 level It's not coincidence that we didn't Break it because this was the Significant resistance level you you add Resistance back here already yeah then Here And now here again and we just need to Break it there's no way around it and it Will we might touch it again and again And again it sometimes it may break but Until it's it's not broken I will I will um treat all these movements to The upside here with suspicion just Typical volatility that happened Yesterday as a result of CPI and Interest rate increase so we can't Really take it too seriously anyway and If you compare the structures here which In my opinion was a five wave move to The upside and here you can see Differences this to me looks just like a Three-way structure one more like up is Clearly missing here in my opinion so I'm not too confident if this was a Clear five wave move okay I could take It a bit more seriously it isn't now of Course there is a chance that we've got Something hidden somewhere fifth wave Hidden in there if I go to the lower Time frame and yeah you know there's a Chance to count this as a wave one maybe We're coming down now as a two and we'll Then move up
But again what I want to say is that we Break the 15 level or at least if we now Come down that we're holding a certain Support area if we see a bullish Reaction to a certain support area that I'm gonna give you now this could also Be the first signal that things are Moving up so if we say we come down now In three ways which could be an ABC Pattern in Wave 2 then we would need to Hold support in this area between 1390 And 1327 if this is a if this was a high Probable highly probable one two setup This would be the time where I would Possibly scale in as well go long in Anticipation far away three but I'm not Gonna do that not with Solana not Because we are still below the 15 level And it has been such an important Resistance level and not because Um this move up looks like a three wave Structure so I'm I would just be a bit More patient I'm also not going to trade Solana because if there are other charts That look just much more interesting Thing and that are just much more Reliable why would a trade Solana at the Moment it's just not it's not on yet Yeah and of course this could become Something more bullish and I'm I'm still Looking at the you know there is a Decent probability that we can get some Short-term bullish upside here at least Short term into the Region 19 20 as
Explained yesterday as well but again First I need to see that breakout above That key level and on the flip side if We now come down even if we come down Deeper it's not a problem it's not Necessarily super bearish short term Um but if we break below 1180 it would Also reduce significantly the Probability of this short term long Trade setup okay that's my update about Solana I hope 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 Thank you