SNX is likely to see a pump here in my opinion.
It has had a long sustained uptrend with higher highs and higher lows.
It has been pretty volatile on this move, which is a good sign that more
volatility is to come.
What has me bullish on this specifically is that it is exhibiting the slingshot
pattern near ATH resistance. What I mean by this is it had a sideways move
at support, peeked above the higher bound, then fell straight down below
the lower bound and rebounded. It is now in a short period of low volatility.
Short periods of low volatility are often followed by high volatility.
If it bounces up from this level, it will be in price discovery in the BTC pair.
In my opinion this is a trade with a lot of potential upside.
In the event of downside, you could try to DCA the bounce off of the 0.382
Or just make your stop price the liquidation price.
It has had a long sustained uptrend with higher highs and higher lows.
It has been pretty volatile on this move, which is a good sign that more
volatility is to come.
What has me bullish on this specifically is that it is exhibiting the slingshot
pattern near ATH resistance. What I mean by this is it had a sideways move
at support, peeked above the higher bound, then fell straight down below
the lower bound and rebounded. It is now in a short period of low volatility.
Short periods of low volatility are often followed by high volatility.
If it bounces up from this level, it will be in price discovery in the BTC pair.
In my opinion this is a trade with a lot of potential upside.
In the event of downside, you could try to DCA the bounce off of the 0.382
Or just make your stop price the liquidation price.