SOL ELLIOT WAVE
Seeing CRYPTOCAP:SOL push back to $100.xx and feeling the urge to FOMO buy? Take a step back and look at the market structure: 📌 TECHNICAL BREAKDOWN Wave (B) Corrective Push: Today's bounce from $96.83 is a textbook Wave (B) corrective retest, currently testing the 0.5 ($100.28) – 0.618 ($101.32) Fibonacci retracement cluster. Confluence Resistance: The descending channel trendline combined with heavy overhead supply blocks continues to cap any further upside momentum. Key Invalidation Level: As long as price remains below $106.93, the primary Bearish Impulse count pointing toward lower demand zones remains fully active. 💡 SPOT TRADING ACTION PLAN AVOID BUYING AT $100.xx: This is a No Man's Land. Buying inside Wave (B) offers a terrible Risk-to-Reward ratio. IDEAL BUYING SETUPS: Discount Scenario: Patiently wait for Wave (C)/(5) to complete near the main demand zone at $89.75 – $86.73. Breakout Scenario: Wait for a confirmed 4H candle close above $107.50 before flipping fully bullish. Protect your USDT/FDUSD cash position and let the market confirm its true direction! 🛡️ #Solana #SOL #CryptoAnalysis #TechnicalAnalysis #ElliottWave #BinanceSquare