​​👁‍🗨SNX Analytics.

The coin is showing a steady movement, but at the moment we are on the verge of a trend change. The wave structure is completely finished, which potentially creates the danger of a correction in the ABC structure format. We formed a triple top and failed to gain a foothold at the key resistance at $4.567, which leads to further decline 🔚

Right now we are breaking through the ascending triangle into a short position and going lower - if the asset can consolidate lower over the next few candles, then we will have a further movement towards support at $3.084 (a decrease of 15%-30%). To maintain the bullish trend, the buyer needs to stop the fall at the current values ​​and get into the range (this will allow the formation of an area of ​​traded volume) ✔️

Volumes began to decline, as did the cumulative volume index, which indicates an outflow of capital from the asset and the coin is preparing for further decline. The buyer is trying to cope with the pressure and buys back the sales (highlighted the squeezes from below at the candles), but this is not enough and if the buyer does not increase the pace and aggressiveness of the buyback, dominance in the asset will completely pass into the hands of the seller.

According to the Aroon indicator, on the lower half we see a red line (Aroon Up) and a blue line (Aroon Down). The first section shows that Aroon Down is on top most of the time - this means that the market had an upward trend, but the dynamics are fading and if it changes, we will face a further decline in the asset ✖️

The CMF (Chaikin Money Flow) oscillator has gone above zero and is approaching one, which indicates that there are more buyers in quantity and if they cooperate, they will have a chance to take the asset above current values ​​and continue the bullish phase.

🔜Brief perspective: Many factors favor a further correction of the asset to $3.565, and then to $3.084. To maintain the trend, buyers need to make more efforts and increase the volume of redeemed coins (ideally try to return to the ascending triangle).$SNX#HotTrends#Bitmen