Observation:
SOL faced rejection at $160 and retraced to a supportive zone. Potential correlation with BTC's performance.
Trade Setup:
Entry: $126 - $140.
Take Profit: $160 - $170 or $200 - $220.
Stop Loss: Tight below $120 or BTC's $60,000 support loss.
๐จ Risk Management:
Trade is against BTC's downtrend on higher time frames.
Monitor BTC closely; any loss of support prompts trade exit.
๐ Strategy Rationale:
Anticipate SOL's recovery if BTC maintains $60,000 - $61,500 support.
Tight stop loss minimizes potential losses in uncertain market conditions.
๐๐ Stay attentive to BTC's movements for trade adjustments! #SOLTrading #BTCAnalysis ๐๐
SOL faced rejection at $160 and retraced to a supportive zone. Potential correlation with BTC's performance.
Trade Setup:
Entry: $126 - $140.
Take Profit: $160 - $170 or $200 - $220.
Stop Loss: Tight below $120 or BTC's $60,000 support loss.
๐จ Risk Management:
Trade is against BTC's downtrend on higher time frames.
Monitor BTC closely; any loss of support prompts trade exit.
๐ Strategy Rationale:
Anticipate SOL's recovery if BTC maintains $60,000 - $61,500 support.
Tight stop loss minimizes potential losses in uncertain market conditions.
๐๐ Stay attentive to BTC's movements for trade adjustments! #SOLTrading #BTCAnalysis ๐๐