Black_Mask

🧠 Chart Type:

Pair: SOL/USDT (Perpetual Futures)

Timeframe: 1D (1-Day candles)

Analysis Style: Elliott Wave + Fibonacci + Channel Pattern

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📌 Main Structure Observed:

🔷 Elliott Wave Structure (Impulse Wave):

The chart follows a classic 5-wave impulse uptrend:

✅ Wave (1)

Starting point of the bullish trend (around late March).

Wave (1) peaked around early May.

It shows the first leg of the upward trend.

✅ Wave (2)

Retracement from the Wave (1) peak.

Ended around $126.16, touching the 100% Fibonacci extension level from the previous wave.

✅ Wave (3)

Strong bullish impulse wave.

Peaked at $206.21 (0.00% retracement).

This is often the strongest wave in Elliott Wave theory.

🟡 Wave (4) (Now in progress)

Current correction wave, retracing back into the Fib golden zone (50%–78.6%).

Price currently near $169.09 (within expected retracement area).

Likely bottom between $143.29 and $160 (strong support zone).

🔵 Wave (5) (Yet to happen)

Projected bullish breakout after correction completes.

Possible target range: $220–$230 or higher.

This wave might break previous resistance and hit the top of the bullish channel.

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📐 Fibonacci Retracement Levels:

These levels are measured from the bottom of Wave (2) to the top of Wave (3):

Fibonacci Level Price Area Significance

0.0% $206.21 Top of Wave (3)
38.2% $181.84 Minor support
50.0% $166.18 Golden retracement zone
61.8% $151.84 Golden ratio buy zone
78.6% $143.29 Last retracement support
100.0% $126.16 Wave (2) low – trend invalidation

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🟢 Channel Pattern:

Price action is moving within an upward-sloping parallel channel.

Wave (3) touched the upper boundary, and Wave (4) is now touching the midline/lower band.

Suggests potential for another upward move toward the upper channel.

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📊 Support & Resistance Zones:

Type Price Level Notes

Immediate Support $166–$160 50% Fibonacci level
Strong Support $151.84 61.8% Fib (reversal zone)
Final Support $143.29 78.6% Fib; critical support
Resistance $182 Short-term resistance
Major Resistance $206.21 Wave (3) top
Final Target $220–$230 Wave (5) projection based on trend

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🧾 Trading Strategy Idea:

🔹 Buy Zone (Entry):

Between $151 to $160 (if price confirms support)

Look for reversal candle patterns or bullish divergence.

🔹 Stop Loss (SL):

Below $143
(Break below 78.6% invalidates Wave 4 correction and risks bearish reversal)

🔹 Target (TP):

First TP: $182 (resistance area)

Second TP: $206 (Wave 3 top)

Final TP: $220–$230+ (Wave 5 projection zone)
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