$SNXX is holding above 16.23 with bullish 1H and daily structure — is the next breakout loading?
My bias remains bullish while SNXX holds above 16.23. The 1H and daily trends are aligned to the upside, while BTC is also trending higher, giving the setup strong overall market support.
The main caution is the recently confirmed 4H bearish divergence against BTC. SNXX is showing relative weakness, so upside could be slower or fade earlier than stronger market leaders. That makes confirmation especially important before entering.
The key continuation zone is 16.30–16.56, aligned with the recent breakout and FVG area. I would look for a bullish engulfing candle, strong rejection wick, or clean liquidity sweep and reclaim before considering a long.
If buyers step in, the upside roadmap is:
16.77 → 17.08 → 17.63
Above 17.63, the major resistance zone sits around 18.05–18.33, where aggressive profit-taking or a reversal could develop.
The clearest setup would be a dip into 16.30–16.18 followed by a sharp bullish reclaim. A high-volume breakout above 16.77 could then open the door toward 17.08 and beyond.
Invalidation is straightforward: a 1H close below 16.23 would weaken the bullish structure and invalidate the setup. Below that, downside could extend toward 16.07–15.90.
Flow also remains supportive:
OI: $34.5M (+2.1% 24H)
Funding: +0.0000%
Taker activity: 1.92x
Large buy: ~$191K
Overall: SNXX remains bullish, but the BTC divergence means I would avoid chasing. Let price come into the zone, wait for confirmation, and let structure lead.
Not investment advice. Educational report only.
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