What I am looking for on SOLANA #trading

12 Jul 2023 · 1 min

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0:43

In this YouTube commentary, The Art Of Crypto breaks down the current Solana price action, identifying the recent range high being taken out and establishing the range low as a shorting opportunity. The speaker explains that if a new trading range forms, the low marks the bottom and the high marks the top. For bullish traders, a retracement to around $19 is suggested as a buying point to aim for higher highs. For bearish traders, the recommendation is to short now, taking the first profit target (TP1) at the sell‑side liquidity around $19 and a second target near $16. The analysis focuses on short‑term technical levels, liquidity zones, and price retracements.

Chapters

Solana. Essentially what you need to know is that the food here has just been taken and this gives us an opportunity to take a short. This is the range low. In the event that price forms a new trading range, this would be the range low and that would be the range high. So you've just taken out the range high and until you get a little bit of a retrace, especially on sell-side liquidity here, then you're not gonna continue pumping. So if you are bullish, right, then at the minimum you would be looking for a retracement back to $19. If you're bullish, this is where you buy in order to form higher highs. Now if you're bearish, bearish, then, well, obviously you still just short here and take your TP1 at the sell-side liquidity here at $19. But ultimately, your second target should be here at about $16.