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SNXUSDT (SYNTHETIX NETWORK TOKEN) - POTENTIAL BREAKOUT

Long
BINANCE:SNXUSDT   SNX / TetherUS
ANALYSIS πŸ”Ž
- SNXUSDT was bounded in the falling wedge ( FW ) pattern.
- A falling wedge pattern is a reversal pattern.
- A bullish pattern to be precise.
- Price brokeout above the falling wedge's resistance.
- The market is consolidating in a rectangular pattern.
- This rectangular pattern consolidation is known as the accumulation phase (wyckoff method).
- The accumulation phase is a pre uptrend phase ( bullish build up).

BUY ENTRY ⬆️
- Breakout above the accumulation phase horizontal resistance level .

TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).

SETUP INVALIDATION ❌
- Breakdown below the accumulation phase horizontal support level .
- This breakdown invalidation will probably lead to the retest of the falling wedge's support.

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@ 20.141 i entered
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