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Brother Tong 6.25 SOL Thoughts
$SOL Near 68.5-69.5 go short, stop loss above 70.5, first target 64.0, second target 60.0
Yesterday a needle went straight to 64.66, not a deep enough drop, then bounced back to around 68, which is a normal repair after oversold. But repair is repair, and turning strong are two different things. This kind of deep V followed by a weak bounce shows that bottom-fishing orders cannot hold, and the bears still control the situation.
The trend hasn't changed. Continue to view the rebound as under pressure. Don't be misled by intraday spikes.