#5 | Synthetix Network Token vs Tether (SNXUSDT)

1 nov 2021

I had multiple options for the last pair to share with you today, I found many mentioned in the comments section that looked good.

These were CAKEUSDT and BZRXUSDT, I went for Synthetix Network Token (SNXUSDT) since we already have a trade active for this one.

To spot these bullish charts, the Fibs can be very useful/important.

Notice here how bullish action takes place above the 0.382 Fib. extension level, this is marked light blue.

Each Fib. level here below the current price can be considered strong support.

Above the current price, I call these resistance levels or targets.

Since we have kind of a curve coming up from the candles, yes, I look at that... This can signal that things are about to move up.

We have this curve pattern showing up, with increasing volume, bullish indicators, and prices breaking above EMA50... The rest is on the chart.

Namaste.