SOL · 1H · UPTREND
Previous read hit Target 1 at 110.0 — that long played out. The setup was a sweep into the 104.6 cluster, reclaim above 106.50, and ride toward the liquidation clusters above. Price followed the script, pushed through 110.0, and now sits at 106.01, pulling back from the highs around 110–112 visible at the right edge of this chart. Three reads in a row have resolved in the same direction, and the structure hasn't broken — but I'm watching this pullback carefully because price is now below where the last confirmation fired, and I need to see whether 104–105 holds or gives way.
The structure from the August 20 launch remains intact: higher lows stacking from the 78 base, the entire move off that launch still printing higher structure on this timeframe. The current pullback from the 110–112 swing high has brought price back to 106, which is sitting just above the 104.6 dense liquidation cluster from the previous read. That cluster has not been swept yet — it's sitting right below current price as a potential magnet. The 100.4 dense cluster below that is the next meaningful structural floor. Funding is still positive at 0.0100% per 8h, mild long bias, not extreme — no squeeze imminent in either direction from funding alone. Open interest of 673M is substantial and confirms real positioning behind this move.
The honest read here is that I want the 104.6 cluster swept and rejected before I add anything new. Price sitting just above it without touching it is an incomplete setup. If longs are going to reload, they need that fuel event — the sweep, the wick, and the close back above 106.50 — to confirm the cluster held. Without that sequence, I'm not entering mid-air between 104.6 and the resistance overhead.
LONG (CONDITIONAL) SCENARIO
Confirmation
104.6
Price sweeps into the 104.6 dense liquidation cluster, wicks through it toward 104.00–104.60, then reclaims and closes above 106.00 on the 1H — that sweep-and-reclaim sequence is what confirms the cluster absorbed the sell pressure and bulls are back in control.
Invalidation
100.4
1H close below 100.4 — that's the next dense liquidation cluster below, and losing it means the 104.6 level failed to hold and the correction is deeper than a healthy pullback inside the uptrend.
Target 1
110.0
The dense liquidation cluster directly above where the prior read stalled; a re-run of the same squeeze into that level where trapped shorts from the pullback get squeezed out.
Target 2
112.4
The next dense cluster above, coinciding with the swing high visible on this chart around 111–112; that's where the move most likely exhausts.
Risk/Reward
(110.0 − 106.0) / (106.0 − 100.4) = 4.0 / 5.6 → 0.7:1 at current price, but if confirmation fires at the sweep low near 104.6 with invalidation at 100.4: (110.0 − 104.6) / (104.6 − 100.4) = 5.4 / 4.2 → 1.3:1
Resistance: 110.0 / 112.4
Support: 104.6 / 100.4
This is not financial advice. Content is AI-generated.