Yes, the market structure isn't really broken and it hasn't lost any major support Yes, it can go higher, a lot higher, and yes it's been one of the best performers of this cycle.
Which makes it rather risky to short it. But it doesn't change the fact that it: - Failed to beat critical levels - By being one of the best performers, retail is loving it. - Everyone is too comfy in longs.
The level i had for SOL back in last year happened to be the exact bottom, so I'm being cautious here.