Synthetix | Same Chart As Status, Dynamics Explained (1400% Pot)The intelligent reader will notice that we are looking at the same chart pattern as we saw recently with SNTBTC. I made the same drawings on purpose.
We are looking at Synthetix vs Bitcoin (SNXBTC) long-term.
The bottom was hit July 2024. This is an important bit of information. This is because there was a major crash in early August. The fact that this pair bottomed before this date signals there is buying/activity behind the scenes.
The "All-Time Low" here is the price at which SNXBTC traded back in 2019. This chart does not show this data.
The "bearish impulse," left side, is a huge wave. This impulse is followed by a long-term distribution channel. The channel breaks down leading to a new major low. The last drop is really steep, straight down. A steep and fast drop can lead to a strong and fast recovery.
The strategy is simple: Buy and hold.
➖ If prices move lower, wait patiently until everything turns green. It can be years or months.
➖ If prices move up, enjoy the earnings and follow your "selling for profits" strategy on the way up.
Whichever strategy you use is up to you. The most important part is to buy low, "a great entry," timing; once in and green, it is easy to win.
Follow me and succeed.
Thanks a lot for your continued support.
Namaste.
