Is Solana making a strong breakthrough?
This morning, Solana strongly broke through the resistance level of 136, driving Bitcoin up. Bitcoin rose from 84300 to 85200, although it only increased by 900 points. However, Solana's two bullish candles pushed it from 133 directly to 139, and it has not yet broken through the 140 mark.
Today, we will not discuss any information content, only operational analysis.
Bitcoin is following my personal short position above 85600, which can still be held, with the stop-loss adjusted slightly above 86100. The current market situation makes it very uncertain whether this is a true breakthrough, but what can be confirmed is that we are currently at a high stage. With the price here, I can be sure that the long positions are in a tail-end market, where the risk and reward are not proportional.
If it breaks out of the box upwards, the important levels above are 87400 and 88500.
You can either open a short position with a small stop-loss or combine the two levels into one position, depending on your preference.
Solana has now broken through the box and shows an upward trend, with important short positions above at 141.65 and 144.95. For safety, open at 144.95.
Although Solana has strongly broken through, the overall direction still depends on the leader's mood. Can an independent market really remain independent? We shall see.
Although Solana's short position at 136 incurred a small loss, the market has finally shown some volatility. This week has really jolted people, and I believe the upcoming market will be even more exciting.