Is SOLUSDT About to Break Down?
2024-10-08

Yello Paradisers! 🔥 Is SOLUSDT on the verge of a major bearish move? Let’s break it down! 👀

💎SOLUSDT has flashed a Change of Character (CHoCH), hinting at a shift toward a bearish market structure. The current setup is starting to resemble a Head and Shoulders pattern, a classic signal of an impending downtrend.

💎Additionally, after the CHoCH, we saw a Bearish Engulfing pattern forming right on the resistance zone, further strengthening the bearish case. However, a supportive trendline below could provide temporary relief, so caution is essential!

💎If the price rises from the current level, a pullback from the strong resistance zone may be in play. If an Internal CHoCH (I-CHoCH) appears from this resistance area, it will reinforce the bearish potential and signal a continuation of the downtrend.

💎That said, any breakout and candle close above the strong resistance zone will invalidate this entire bearish outlook.

Stay patient and trade with discipline, Paradisers. The market is at a crossroads—let the charts confirm the move before jumping in. This is where strategic planning separates consistent traders from the rest.

MyCryptoParadise
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