Recently, multiple institutions have submitted SOL ETF application documents [S-1] to the SEC.
Moreover, from the wording of the SEC's response, it is evident that the level of [tolerance] has increased compared to the past. This also confirms that the traditional finance sector's openness to the crypto sector is becoming more evident.
Simply from the SOL/BTC exchange rate, it can be seen that the large-scale has already formed a bottom consolidation structure for a period of time. In the future, when a new strong structure emerges from the bottom, I will continue to capture such signals.
Over the weekend, amid the market's consolidation and fluctuations, SOL has quietly formed a bottom shape, quickly surged with volume last night, and made a pullback in the form of a pin bar. The rebound continues intraday. It started to face pressure around 157 and naturally fell back with the market.
The rhythm of SOL is gradually reversing from its previous weak performance, slowly turning around.
4-hour level rebound testing pullback, the bullish rebound has not ended in the short term. The current position for chasing long is not favorable in terms of risk-reward ratio, consider entering low long positions during pullbacks.
Several positions that need attention
Support Position
First Position 151.3
Second Position 149
Third Position 146-147
Pressure Position
First Position 157 (tested)
Second Position 160
Third Position 163
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