And here's the breakdown for tonight on project #SOLV .
Can we consider the pump a buy signal and a setup for long positions, or is it just a false move?
1. First, let's analyze the cycle (weekly TF) from March 29 to April 2 with a price range of 0.002902 - 0.009367. Key zones for reversal or trend confirmation (marked in blue): Long position = breakout + consolidation above the level of 0.005407. Short position = retest without breaking 0.005135 or without touching it, continuing the downtrend.
2. Now, let's look at the daily TF, or the "in the moment" situation. Consolidation of the current price state "as is" i.e., above 0.004860 = heading for a retest of 0.005135, which is a short setup on the weekly TF. If we can't hold, we might enter accumulation in the range down to 0.004164, and if we break below that, we'll continue the downtrend. $SOLV