$SOL I am watching carefully (waiting for a trader's rebound)
Pay close attention to these numbers, there are 817 whales controlling the market with massive sell orders and they are currently in huge profits, the next movement is crucial.
Proposed trading plan (Scalp Long):
Quick speculative buy: from $79.80 to $80.20
Take profit: $81.50, $82.50, and $83.80
Stop loss: $78.50
Risk management is essential, and this is not financial advice but a technical view.$SOL
Analysis of the logic behind the trade based on whale data:
If you look at the picture, you will find that there is a huge and dangerous divergence. We have 817 whales opening short (sell) positions worth $516 million, and they are currently controlling the market, with 95% of them making profits because their average entry was around $101. On the other hand, there are 528 whales stuck in long buy positions at a loss, with their average entry at $91, meaning they are very far from the current price.
But, why did I decide to enter a quick speculative buy (Long)?
The reason lies in the data from the last 30 minutes (below the picture), where we notice that the net buy volume started to slightly exceed and reached $2.46 million against $2.39 million in sales. This means that some whales have started to enter and defend the $80 area as a strong psychological support. If this price holds, we will witness a rebound to liquidate some profitable short positions. However, if we break below $78.50, it is better to exit immediately as the decline will continue.