Synthetix New All-Time Low On Falling Wedge (222% BU-Pot.)

18 de ago.Hello my fellow traders, here we have another highly interesting chart.

Synthetix (SNXUSDT) just hit a new all-time low, breaking its December 2022 bottom and hitting the lowest price in its history... This can be good.

A reversal can easily follow after a strong crash and we have some signals in support of this statement.

1) We have a bullish harmonic pattern coupled with a strong, almost perfect, falling wedge. While there is always the possibility of one more low, one more crash, a sudden flash crash; the truth is that growth can also start without warning and this is the tricky part about the cryptocurrency/altcoins market.

It can take weeks or months for a bullish wave to develop but at other times massive growth can happen in a matter of days; no warning. The patterns and indicators can alert of the event but not the exact timing as to when. We can easily predict the direction but not the date.

2) The classic rounded bottom is also present and the current session is green. More than this small rounded bottom, which is weak due to its small size; we can see SNXUSDT trading back above its December 2022 low support. And that's the main and most important signal.

If it trades above this level we can assume that additional growth is possible.
Confirmation is needed and this only happens once the session closes.

These are early signals, but the potential is good for a bullish jump.

Remember to do your own research and planning.

Your support is highly appreciated.

Namaste.