Is SOL/BTC following the ETH/BTC distribution pattern?

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  • As the big red weekly candle closes for BTC, we should see some volatility this week.
  • Solana valued in BTC has exited a rectangular distribution topping pattern.
  • Failure to recapture the rectangular box and enter back into it in a spring like move is looking increasingly unlikely.
  • Ethereum valued in BTC followed a very similar pattern in Nov 2023, exiting the rectangular distribution rectangle and fell much much lower.
  • The 50 week (blue line) and 200 week (purple line) moving averages also follow a similar trajectory for both instruments / coins.
  • If SOL / BTC does not recover into the box, and fast I will be exiting a long term position I hold.


Defensive Strategy based on this chart and the USD chart warrants consideration

PUKA

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.