Solana (SOL) June 2023 (Paid Version With Best Trades)

Kapproveb Alcyone
May 7, 2023
3 min read

Updated: Jun 5, 2023

Month’s Theme: A notable decline on a one-year scale that offers an opportunity to open a long position. That’s crossed with a notable rally on a one-month chart that offers another opportunity to open a long position.

Behavior Around the High: A sideways-S formation where we rise to resistance, decline back down, and repeat.

Behavior Around the Low: An opportunity to cash out on a short position that will stand out.

Exclusive Trade Opportunities for Subscribers:
- An opportunity to open a short position on the 1st and close it on the 3rd or the 7th. A more speculative opportunity would be to close on the 28th.
- An opportunity to open a long position on the 3rd and close it on the 5th in the midst of a decline.
- An opportunity on the 9th to open a short position. I would close that the next day at a lowest low in the midst of sideways rotation.
- An opportunity on the 14th to open a short position at a crest and close it on the 16th.
- An opportunity to open a long position on the 16th and close it on the 17th or the 19th.
- An opportunity to open a long position on the 28th. I would close that after a move to the upside in July.

Overview

We may have a highest high on the 1st. We’ll move above resistance briefly and then break back down through the same price level. We’ll move into a prominent trough or low on the 2nd, the 3rd, or both. Toward the end of the day on the 3rd, we’ll move to the upside into a crest that we’ll then sell off from. We’ll continue to sell off into the 4th. On the 5th, there’s a fast, sudden move higher reaching for distant resistance, likely toward the end of the day. On the 6th, we’ll move higher and successfully turn resistance into new support. There’s a big decline on the 7th that might be taking us into the month’s lowest low.

On the 8th, there’s an important resistance level highlighted. On the 9th, there’s an unexpected move to the upside. There’s a sharp drop and an important trough that will stand out within a period of sideways rotation on the 10th. There’s a bit of a retracement to the upside early on the 11th. On the 12th, we’ll establish support, move to the upside, and then establish higher support. There’s a sharp decline on the 13th taking us into a trough. There’s a near overbought peak or crest that we’ll sell off from on the 14th.

That decline continues with increasing momentum moving into the 15th. On the 16th, there’s an important reversal to the upside. On the 17th, we’ll push the upper end of a range higher. On the 18th, we’re bound at the bottom of a range. We’ll go from a peak or crest on the cusp of the 18th/19th to a trough. On the 19th, we’ll move higher and then have a full retracement of that move. We’ll decline into the 20th, but we’ll then have a move to the upside taking us to a peak or crest on the cusp of the 20th and 21st. We’ll then decline off of that peak the morning of the 21st. That’s followed by a big move to the upside midday.

There’s a halting of a bullish trend on the 22nd marked by a sharp decline through key support. On the 23rd, there’s a lot of price change and an important resistance level toward the end of the day is highlighted. On the 24th, there’s a U-shaped dip that forms at the intersection of two perpendicular diagonal trend lines. We’ll have the completion of a bullish trend and a notable decline taking us what might be the lowest low on the 25th. We’ll have a big move to the upside at the end of the day on the 25th or on the 26th. On the 27th, we’ll attempt to establish support to the upside. That’s followed by a decline on the 28th. On the 29th, there’s a crest that forms toward the end of the day and we’ll decline from that crest to support, decline, and then do a U-shaped reversal back up. On the 30th, there’s a resistance level that’s highlighted. We’ll also decline to another prominent trough.

Sneak Preview

In July, there’s a significant breakout to the upside on a multi-day scale.