ANALYSIS π - SNXUSDT was bounded in the falling wedge (FW) pattern. - A falling wedge pattern is a reversal pattern. - A bullish pattern to be precise. - Price brokeout above the falling wedge's resistance. - The market is consolidating in a rectangular pattern. - This rectangular pattern consolidation is known as the accumulation phase (wyckoff method). - The accumulation phase is a pre uptrend phase (bullish build up).
SETUP INVALIDATION β - Breakdown below the accumulation phase horizontal support level. - This breakdown invalidation will probably lead to the retest of the falling wedge's support.