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The recent market movement of SOL has become quite obvious. The overnight bottoming was just a quick rebound driven by sentiment, and just as the bulls pushed the price to 132, it was hammered back down, leaving no chance to even catch a breath. Now it’s fluctuating around 130, seemingly stabilizing, but in reality, it’s just the calm before the storm of a decline.
The four-hour chart is clear at a glance. The Bollinger Bands are continuously tightening, and each rebound to the middle band is met with resistance. What does this indicate? Capital is not optimistic about this rebound; the power in the market still lies with the bears. Without volume support or improved patterns, forcing long positions at this time is equivalent to handing over chips directly to the main players.
The key idea is clear: every rebound is a window for shorting. You can gradually enter short positions between 131 and 133, with the first target below at 124, and further down, the target is 120.
The bulls lack trend support and are only left with illusions; the bears follow the market trend, and the profits that should be made will naturally come.