$SOL Simple technical analysis and set up
06.06.2025
-Weekly levels: 187.5 and 141.55 (adjusted from 142.55)
-Daily level: 152
-Price action: deep retracement from 141.55 to 152.39. Both daily and 4H timeframe showing downtrend.
-Confirmation: price tried to break through 152 but leave the zone quickly.
So the market is bearish, it would be low risk to open a short position.
-Entry: 151~152
-TP: 141.55
-SL: 153
-Scale in at 148 and 145.
Let's see how it goes.
Update 1- 06.07.2025 -price is moving in my favor, scale in 25% of initial position at 148 and move SL to break even point.
