my previous post mentioned that the sol experienced a fake bearish, in my view this scenario is created to force retail traders to sell at low prices, plus the rumor of unlocking ftx tokens, is the scenario I think actually happening? no one knows, we as small traders can only observe and understand the logic behind the market. everything I write is my perspective, if there are mistakes please correct me ๐ #solanAnalysis $SOL
๐จ SOLANA CRASHING?! Today's SOL price dropped drastically by -5.5%, touching the level of $119. Many are panicking, but there are also those who are *loading the dip!*
๐ฐ What Caused It? - Unlock FTX๐จ: 11.2 million SOL released to the market, increasing selling pressure! - Bear Trap? ๐ปโ: Many *short* positions, could be a fake bearish scenario before SOL soars again! - Fundamentals Still Strong?๐ฅ: TVL & Solana's on-chain activity remains high, many *meme coin* & DeFi projects are still active!
๐ Next Actions? ๐ Buy the dip? ๐ ๐ Wait for reversal confirmation?๐ค ๐ Or will SOL continue to drop?๐ฑ
Comment below, is this a golden opportunity or a trap?! โฌ๐ฅ #solanAnalysis $SOL
this bullrun phase is different, because of the many retail traders fomo, the best scenario from my perspective is that whales are creating a fake bearish trend which causes retail traders to be forced to sell at a loss, then after the trading volume decreases, that is the right time for whales to enter followed by retail traders which creates a surge in trading volume, this is just my speculation what do you think? #correct me if I am wrong #solanAnalysis $SOL $SOL
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