00:00hello and welcome to another update video on solana we want to start here on the larger
00:05time frame for solana because solana has with today's candle broken above our signal line
00:12what i would really like to see now is that the daily candle can close above this signal line
00:19we've also approached or arrived at the 61.8 retracement um so this is like the next key
00:26resistance level right there at around 191 dollars um someone also asked me uh when do we get the next
00:33pullback i can't tell you that right we had the pullback we had a great opportunity only a few
00:38weeks back this was a one two setup this was very clear this was a perfect one two setup um and
00:45therefore yeah if the next one shows i mean you'll hear it here but i can't tell you when because the
00:52trend is up right now enjoy the rally as it's unfolding you can still trade breakouts and
00:57trade momentum if you want to but for pullback traders i mean the time was there right um there
01:03are always pullbacks on smaller time frames i mean we had a couple last week that actually hit micro
01:09support areas but please understand that um in an environment like this at the moment the pullbacks
01:15are rather shallow okay it's it's you know it's a trend um the idea is that we are now either in wave
01:22c in the white scenario i mean that's basically just the same same scenarios we discussed before
01:27right either we are in the white c wave to the upside which could take us higher as part of white
01:33wave b and then in the yellow scenario we might even grind higher towards 360 380 now in the white
01:42scenario um in the white scenario um on the white scenario he the the price not he here the price
01:53could get to round about um the 100 extension at around 249 dollars so the 249 dollar level has been
02:02a target i've i've mentioned for quite some time it's the 100 extension level that's a typical target
02:10for a c wave because the a wave and the c wave they tend to have the same length if you follow my
02:15work then you know that of course it can grind higher directly and that's always possible but as
02:21i shared with you before um the yellow scenario remains my preferred interpretation which means
02:26going even beyond that right so possibly stretching towards 360 380 and again also the price can also go
02:34higher than that i mean this is more like um milestone targets okay like checkpoints and
02:40then we have to see how the price reacts to these levels of interest or areas of interest um at the
02:48moment the trend is up and we are watching for higher prices again you know and as i said to keep the
02:54direct uptrend intact ideally the price holds above that 100 9 185 dollar 70 level that would be ideal i
03:03mean getting a pullback now could possibly open the door to a one two setup but honestly we don't really
03:09have a clear five wave move up yet from the low and i'm not sure if we get another one two setup maybe
03:14it will take the direct route higher which again will be covered by our micro support area so while
03:20i'm watching for a one two setup it would require a break of certain support levels to indicate that
03:25we've even started a pullback that we have formed the local top for now the local trend remains up
03:31and the trend remains up and yeah um the momentum remains up i wanted to say right so if we if we
03:38then look at the structures here the price is currently pushing against the 61.8 retracement
03:43at 191 dollars that's a key level because the 191 dollar level in this case is it's like the golden
03:51ratio level a very very important resistance level and important resistance parameters that
03:57um we we have to consider when we're checking the charts you know but i don't see any rejection so
04:02i don't see that as a major obstacle to the price um the next level i can offer here is at 231 dollars
04:10that's the 78.6 retracement level but please note this is on the larger time frame okay so this is on
04:18the larger time frame there will be other micro resistance levels on the smaller time frames and we can
04:24take a look at that as well now let us move over to the smaller time frame for solana just gonna load
04:32it here it's not doing that i'm not sure why yeah let's go to the smaller time frame and here you can
04:42see another upside extension um so if we go to the one hour chart zoom out a little bit then you see
04:49then you see the rally unfolded from the 22nd of june low nicely not impulsively but as a diagonal
05:00structure in which we had best i can tell um and again that might change but for now that's my view
05:06you know we had a wave one in three waves wave two w x y the y wave is now unfolding and a b c is the
05:14sub wave structure of the y wave that's all part of a third wave and what i'm doing i'm going to move
05:21up the support area with the price as we go higher it's now located at and i might need to change that
05:27no or fine it's now low and slightly okay let's move it slightly it's between 156 dollars pretty
05:35much and 169 dollars this is the main support area that keeps the uptrend intact in a diagonal
05:41structure and then i shared with you over the last few days i mean there were micro support levels
05:45here here you know around the 16th and 17th of july so they were tested and the price bounced off
05:52and um again you can still track higher prices against those previous swing lows so what we did
05:58in the last few days i shared with you what are the key levels that now need to hold to keep the direct
06:04trend to the upside alive right so um 178 dollars to um 173 dollars those are the next uh key levels
06:12there the um last swing lows and as long as they are holding there's no sign of a top so basically
06:19what we need now to indicate a top of sorts and the start of a pullback and that would be likely
06:25the way for pullback we need a break below the last swing low at 178 dollars and then the focus can
06:32be on this support area between 156 dollars and 169 dollars and only then you know we really have
06:40a deeper pullback and then ideally the support level holds but enjoy the rally as long as it's
06:45unfolding right uh we've got phenomenal performance we've had um support levels holding and this doesn't
06:51happen very often um so these momentum rallies are great and so if you wait for a pullback and then it
06:57comes and it breaks support it's frustrating okay they're just saying um now at the moment that being
07:03said there is just no pullback entry right now so if you if you don't if you don't feel comfortable
07:07trading a breakout or trade momentum then don't do it but that's up to you for now the structure
07:12points still towards further upside and the next micro resistance levels are 195 dollars and 39
07:18199 84 to 205 dollars 66 those will be adjusted sometimes i get questions you know what are the levels
07:25and yeah i typically discuss them here in the video you also as a member as a gold member you
07:31have access to our live charts don't forget so you can see the updated charts uh whenever they update
07:36it um typically a few times a day especially something like solana so i'll keep you updated
07:40um hope you enjoyed the update um make sure you hit the like button let us know what you think and also
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07:59link in the description thanks so much bye bye thanks so much for watching the videos on this youtube
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