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$SOL at 68.85, a 3.19% increase, and what I smell behind this is short squeeze chips piling up. Yesterday, I took long positions at 66.55, and I’ve already set partial take-profit orders at 71.2 and 73.5—24-hour trading volume of 929 million isn’t retail investors buying, it’s the main force collecting positions at low levels.
The logic of this round of operation is very simple: it only took 4 hours to go from 66.5 to 69.5, and during the rally, the trading volume decreased, indicating few floating chips.
I entered at 67.3, with a stop-loss set at 65.8 (breaking this level indicates failed absorption), and half of my position.
If you want to chase now, wait until the pullback near 68.2 to place your order, don’t be the bagholder at a high level.
Someone asked why it’s not a false breakout? Look at the 15-minute chart, every time the lows are being raised during dips, which means funds are supporting the price.
The resistance level is around 71.8; if at this level there’s a volume spike and price stagnation, I will reduce my position immediately.
The market doesn’t lie.