🚨 DON’T SHORT $SYN YET
A lot of people are trying to find the top of SYN right now.
I think that’s a big mistake.
Almost 2 days ago, I told you not to short $SYN as I’m still bearish on SYN in the bigger picture but not bearish enough to short it now.
The chart is still making higher highs and higher lows, buyers are still defending every pullback, and most importantly, the $0.30-$0.32 area continues to hold. As long as that support stays intact, the structure remains bullish.
The next level I’m watching is around $0.40. If buyers manage to push through that area, I think $0.48 comes much faster than people expect. Volume is still strong and every dip is getting bought very quickly, which is not something I want to short against.
Will $SYN dump eventually?
Of course.
Every coin does.
But right now the chart is not showing me the kind of weakness I need to see before opening a short.
For now, I think trying to short SYN is more dangerous than longing it.
When the structure breaks, I’ll post the short setup.
#altcoins
A lot of people are trying to find the top of SYN right now.
I think that’s a big mistake.
Almost 2 days ago, I told you not to short $SYN as I’m still bearish on SYN in the bigger picture but not bearish enough to short it now.
The chart is still making higher highs and higher lows, buyers are still defending every pullback, and most importantly, the $0.30-$0.32 area continues to hold. As long as that support stays intact, the structure remains bullish.
The next level I’m watching is around $0.40. If buyers manage to push through that area, I think $0.48 comes much faster than people expect. Volume is still strong and every dip is getting bought very quickly, which is not something I want to short against.
Will $SYN dump eventually?
Of course.
Every coin does.
But right now the chart is not showing me the kind of weakness I need to see before opening a short.
For now, I think trying to short SYN is more dangerous than longing it.
When the structure breaks, I’ll post the short setup.
#altcoins