Not much to write about today but crypto did get slammed. The most interesting short setup is SOLUSD. Again, the massive wedge broke in mid-December. A head and shoulders top may be forming since September as well. 186.30 or so is proposed resistance (see below). Immediate downside focus is the proposed neckline near 155.
12/13 – SOLUSD has broken the line off of the 2020 and 2021 lows. Again, massive wedge has been completed which leaves SOLUSD in an extremely dangerous position. The underside of the former wedge line and former support is now resistance near 186.
USDNOK has traded lower as suspected and downside focus is the 61.8% retrace of the rally from October at 8.6312. This is also near VWAP from the April low and the lower parallel from the fork that originates at that low.
12/13 – USDNOK has retraced 61.8% of the decline from last week’s high. Still, respect a run at the mentioned 9.10. This is resistance from July/August and where the rally from last week’s low would consist of 2 equal legs.