On the above 1-day chart price action has corrected almost 70% (currently 50%) with a ‘incredible buy’ signal printed towards the end of July. A number of reasons now exist to be bullish, they include:
1) Price action breaks out of resistance after 110 days.
2) Higher lows printing across numerous oscillators - excellent.
3) Bullish engulfing candle prints at...
BINANCE:SNXBTC may be ready for another nice move up,
after period of sideways consolidation, higher lows, buying power stepping in.
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Disclaimer: This information is not a recommendation to BUY or SELL. It...
Depending on if BTC Decides to range sideways more, shoot to the moon or head to the core of the earth, SNX looks Really interesting to me here! Alot of Volume under and alot of volume overhead to get through. Has broke the .618 and .66 speed fan and is trying to remain about the .382
The setup is looking really bearish against BTC.
Only Long argument would be that the breakout haven't happened with volume.
If I were to take a position, I would put a sell order just below the support in order to avoid going in on a potential fakeout.
I may have come late to the party as so many have been shilling SNX last week. But I am here after a confirmation of both high volume, and a breakout on the 3d 50 EMA chart.
My entry is marked in blue.
And my conservative target is set in green.
I know a longer timeframe marks 100% gains, but at this stage of BTC drama I'd rather be extra cautious. What is yours?