SOL · 1H · DOWNTREND

Price has been grinding lower since the late-May highs near 86, printing a clean sequence of lower highs and lower lows across the entire chart. The most recent leg down from ~75 accelerated sharply, slicing through 70 and now trading at 66.08 — right at a prior consolidation zone from early June around 66. This zone held briefly before, but with this much downside momentum and no sign of stabilization on the current candles, I'm not treating it as a reliable floor. The macro news I'm reading shows no crypto-specific catalyst — it's all equities and chip stocks driving sentiment — so there's nothing in the headlines to change my structural read here.

My bias is short. I'm not chasing the current candle because price has already dropped hard in the last two sessions and is sitting at a minor support zone. Mid-range chasing gives me poor R/R. I'm waiting for a dead-cat bounce back into the 68–70 area, where the prior breakdown zone and likely MAs converge, and that's where I'll reload short. If that bounce comes and stalls there, the setup is clean — lower high confirmed, downtrend continues toward 63 and then 61.

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Setup: SHORT (conditional on bounce to resistance)

- Entry: 69.00

- Stop Loss: 71.00

- Take Profit 1: 65.00

- Take Profit 2: 62.50

- Risk/Reward: 2.0:1

- Confidence: MEDIUM

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