Synthetix SNX - Bullish head and shoulders! Elliott wave

22 Jul 2022

• SNX is ready for an upcoming uptrend!
  
• On the daily / 3D chart we can spot a bullish inverse head and shoulders pattern that is very close to a breakout!
  
• The impulse Elliott wave (5-3-5-3-5) has been successfully completed and because of that I expect an ABC retracement of this bear trend to 0.618 FIB / end of the wave (4).
  
• You can set your profit target here, between 9.19 USDT to 8.02 USDT.
  
• We have a huge descending parallel channel and I think we can definitely break through this channel!
  
• I recommend only a short term trade here, because I think we need more time for this altcoin to gain strength again.
  
• I expect tremendous pumps for selected altcoins, you can find them in the related section down below ↓
  
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