The day before yesterday, based on session close, 23-May, marks a strong rejection from resistance, a mild resistance I should say but, this doesn't change much or anything when it comes to the bigger picture and what we expect in the coming weeks and months.
Good evening my fellow Cryptocurrency trader, I know it is Saturday night but still, it is fun to work.
When in doubt, zoom out... What happens if there is no doubt?
Well, when there is no doubt, rest easy and buy more. Hold easy and profits will come.
Notice the blue line on the chart. This line marks the low from 19-May. While we had a rejection 23-May there is absolutely no bearish action on this chart. The following day, yesterday, was neutral and we will see what the market does today.
The action is happening pretty high compared to the 19-May low. This low is the main support zone and also the baseline of our rounded bottom. $160. You can say that Solana is truly bullish above this level. If it moves below, nothing happens because this isn't likely to happen but if it happens it simply means a market shakeout or bear-trap is taking place. Why? Because we are bullish now, the bullish bias has been confirmed and we will see growth long-term.
Are you aware that interest rates, by the FED (USA), will be lowered next month? This will be used as the catalyst for the Cryptocurrency market to produce astounding growth. When this event happens, you should be fully invested, "buy like is the end of the world" remember?
That's the situation in which we are now. Prices are still low.
Prices are not low as in trading at $100 or $110. But you will consider them super low when Solana starts trading at $300 or higher.
Here is the thing, when the rise happens it will be so sudden and so strong, that you will be wondering, "why didn't I buy when prices were low?" "Master Ananda told me so many times, so many charts..."
It is not too late. Cryptocurrency is set to grow. Long-term.
Thanks a lot for your continued support.
Namaste.