SNX Stakers Beware, Nearing 5 Up, Ready For Deep Correction
This follows my bearish outlook for BTC and XRP, most everything.
We are close to completing 5 up from the very beginning...meaning a DEEP 2nd wave correction is near. The likely stopping areas are noted, log Fib levels. We could still hit $11 area prior to topping.
This is the weekly chart, so nothing happens overnight, it's just something to be aware of and the depth.
We are close to completing 5 up from the very beginning...meaning a DEEP 2nd wave correction is near. The likely stopping areas are noted, log Fib levels. We could still hit $11 area prior to topping.
This is the weekly chart, so nothing happens overnight, it's just something to be aware of and the depth.
Comment:
One more down/up could complete 5 waves up for SNX. If so, lookout below. BTC dropping $7K "straight" down also tells us a top is near.
Comment:
It's possible to see 5 up for wave (i), complete....now working on wave (ii). This also matches the Head and Shoulders pattern and a series of 1/2 1/2 setups in BTC, on the H4 chart.
Trade closed: target reached
Comment:
My bearish outlook has changed, only based on BTC and others. That said, looking at this chart only, I see $1.15 as a shallow target. I no longer pay too much attention to SNX and will close this.