SNX long term outlook
This is a long term chart of SNX with a breakout around 1/17-1/30 2023 coinciding with the macro structure of the chart. Looks as though the bearish pattern has played out but there could another sell off as the head and shoulders is debatable on where you measure either it is -80% down or 87% which would be another large sell off in December. Since the Dxy has recently sold off one would think that the crypto market players would notice but it seems that was not the case. This leads me to believe that once the Dxy bounces of this range there will be another sell off only for crypto to rally once that is done i.e the first two weeks of January. Time will tell. This range is about DCA’ing in at lows during sell offs and stacking positions. However the longer term outlook still remains and doesn’t change in my opinion.
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