SOL / New Cycle Begins / CommerciumHispanus🌎

25 de jan. de 2023

🚨SOL Falls Below $10 For The First Time In Two Years
Ethereum founder, Vitalik Buterin was sympathetic to his competitor SOL
In a December 30 tweet, he said that SOL has "a community of smart and serious developers."

elliot waves
(c) movement done
After (c) we would normally expect relief to fibonacci retracement resistance high liquidity levels
New Cycle Begins

• 🌎CHIndicator V1:
🔴Previously oversold (RSI) on 1W and 1D timeframes, currently saturated oscillators show high strength in uptrend
🟣Average (EMA) 200 periods (Market consensus) above the price even, technically the asset is undervalued.
⚪️In the past there were multiple regular and hidden bullish divergences in different oscillators, currently there are some bearish ones that lead me to forecast consolidation before a new impulse

• 📘Wyckoff:
Current market condition suggests we are in the last 3 phases (see model/scheme and volume of trade in exchanges)

• 🟠Bitcoin dominance in the crypto market begins to rise after bearish movements in alternative currencies, including SOL, the crypto market cycle is fulfilled, these are characteristics of the market in depression / capitulation / accumulation phases and very possible end of the bear market

• 📊MACRO CONDITIONS
China: Stimulus, +production, massive natural immunization, gradually reduce anticovid measures.
JP Morgan: "The chances of a recession are considerably reduced"
Kristalina Georgieva, Director of the IMF: "The world economy will grow again"
Central banks slow the rate of increases and possible early pause
Institutional investors, including pension funds, insurance companies and mutual funds, have driven net short positions in the dollar to the highest since June 2021, according to the latest data from the Commodity Futures Trading Commission. .
Treasury initiates special measures to avoid default.

*** Relief forecast until at least Q2/Q3 2023***

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To enter the market you must have:

• Strategy
  
• market vision
  
• Domain of emotions
  
• capital management
  
• quality tools
  

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Greetings to all and good luck!
Ignacio - 🌎 Commercium Hispanus

***Cryptocurrency trading is subject to high market risk. Carry out your operations with caution. I always do my best to choose high quality coins, but I will not be responsible for your trading losses.***