MM23 - Two Ways I'm Planning My Solana Entry

Reminder - this is not financial advice.

The next couple Market Minutes are going to be a little different. I'm spending more time on crypto right now because I'm working hard to find the bottom. It's coming. I don't want to miss it.

I want to teach you to fish. It's very important to me that you have basic knowledge to pull the trigger on your own, without waiting for someone else to say, hey, maybe you should look at this. That's what I'm here to do today.

I want to walk you through the technical tools I'm using on Solana right now. Specifically, I'm going to show you how to draw trend channels, what a "kiss back" is, and how the 200 moving average fits into all of it. If you watched MM10, you saw me talk about planning ahead using -2 mean reversions on four hour and 12 hour charts, coupled with support levels. This is the same playbook, applied to Solana.

Let me start with something that already happened, because the concept is going to repeat itself. I had an old trend channel on my Solana chart. You need two points to make a trend channel. Two high touches, two low touches. I drew it in, and we broke below it. Now, breaking below a trend channel is not automatically the sell signal. It means watch. A trend change can be starting.

So what was my clear signal? This is one of my favorite things. I call it the kiss back. It's when price breaks down below, tries to get back in, and can't. That rejection is a powerful confirmation that the trend has changed. But here's the question you should be asking: why did price shop around for a couple weeks in that area before it finally broke?