Following up on the SOL idea from a few weeks ago, which played out as we expected:
Idea:
Today's chart:
Let's see if history repeatsand solana pumps like it did back in February-March when it went from a $77.607 bottom to a 143.566 top.
The structure is similar and would coincide with a local top for the dxy. Until the
DXY
cools off and shows prolonged weakness, I am seeing every bounce (denominated in USD) as trap for overeager bulls. The dollar strength is dictating the market direction and that is not going to change while the
EURUSD
,
JPYUSD
and every other emerging market currency rolls over.
Idea:
Today's chart:
Let's see if history repeatsand solana pumps like it did back in February-March when it went from a $77.607 bottom to a 143.566 top.
The structure is similar and would coincide with a local top for the dxy. Until the
DXY
cools off and shows prolonged weakness, I am seeing every bounce (denominated in USD) as trap for overeager bulls. The dollar strength is dictating the market direction and that is not going to change while the
EURUSD
,
JPYUSD
and every other emerging market currency rolls over. 