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Bitcoin broke below 70k, and the momentum has turned sour. The overall situation can be summed up in two words: weak. Market sentiment is starting to explode, and with panic selling coming in, many people's first instinct is to chase shorts.
The most brutal market movements often coincide with the most extreme emotions. The more panicked others become, the more one-sided things are, the easier it is for the market to reverse. Moreover, trading goes against human nature.
Looking at SOL, there hasn't been much significant volatility these past two days—simply put, there's no volume. On one hand, liquidity is contracting, and on the other hand, the price has broken below 100, so capital is taking a wait-and-see approach and won't act rashly.
But it's precisely during these quiet periods that opportunities are slowly brewing. From a structural perspective, SOL has clear support at the 85-86 level. There are buyers below, not a lack of them. If you chase shorts at this level, the risk-reward ratio isn't great.
So Little Zhuge suggests considering building a light long position around 86 to bet on a bounce and recovery. Watch 92 as the first resistance, and a break would target 95. Remember to scale out in batches when you get there, and don't get greedy.
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