You could say that this is not an easy one because of Bitcoin's current situation. When Bitcoin is shaky, doubtful, the entire market becomes doubtful and hard to approach, but still, we buy the bottom/support and sell when prices are up.
Solayer produced an uncharacteristic rise previously, it can always repeat a strange behavior, it can detach from the market and move in its own way. There are always pairs that can do anything and do move strangely but also, market conditions can be something today and something different the next day. We shouldn't ignore a good opportunity based on assumptions or something that is not confirmed.
Solayer produced a double-bottom and the volume is good now with the current bounce.
There is also an ending diagonal (blue), which is a reversal pattern.
Say the short-term goes awry and Solayer continues lower, it hits a lower low; how long is it going to take for a reversal to happen? Once we hit bottom, if the bottom is not hit it isn't likely to be far away.
Say things go very bad and we get another low; how long will it take, two months?
That's the beauty of Cryptocurrency trading. Say it does go bad and instead of a reversal we get lower and it takes two months for prices to go up. Guess what? Profits potential would still go beyond 200% within 3 months. That's pretty good for sure no matter how you slice it, think long-term.
On the other hand, one can easy hit the first target for 130% or more within one month, short-term. If it doesn't work, try again, but you can't go wrong if you buy and wait. Notice the difference between current price and the all-time high... It is a nice chart setup, a nice trading opportunity; easy money, depending on your strategy, your thinking, your mindset.
If you are in too much a hurry, ok, you can secure a loss. If you have patience, you can end up with another win in the coming months. It is a great situation. Get ten like these and you set up yourself for success in the short-term. Once your targets hit, can take 3 months or 3 days, find a new set of charts. New opportunities are available every single day.
Take the time to take action. Take the time to choose; choose wisely, and the market will reward you with tons of profits; Crypto is here to stay.
Thank you for reading.
Your support is appreciated.
Namaste.