$SOL

Before reading this post, please note. I am not encouraging you to open a position. My goal is research. How relevant are smart money trading patterns in conditions where even the slightest fluctuation of BTC still drags down other tokens and coins as a whole.

Below you will see the hourly chart relevant at 6:45 UTC - 0, which corresponds to 9 AM Moscow time on August 12.

I highlighted a strong rebound pattern with an orange square. Its name is a double bottom. It manifests here as a double drop and a rebound between them at approximately the same level of 173.5 (with slight variations). In theory, this pattern could take us to a level of 180+ on this day or tomorrow. The BOLL (Bollinger) lines also do not hinder the rise, as they are at the lower line - just in the buying zone.