SNT: Cup and Handle or Descending Triangle
Its been a fun run with
SNTBTC
but the consolidation has been trying for some especially when other altcoins are suddenly rallying. It is unclear where SNT want to go as volume has been declining since the initial rally. Despite this, it is possible that that the real rally has just begun with the new of SNT joining the Enterprise Ethereum Alliance (EEA). Or perhaps the rally was early positioning in order to sell the news. Watch the triangle for a breakout if looking for entry or breakdown if looking for exist. Considering that SNT just bounced off the 100MA on the 1hr it is likely to be a breakout but only patience will reveal the answer. I'm still long with a protective stop @ 0.00000585 (Banking on that hidden bullish divergence). Play it safe.
SNTBTC
but the consolidation has been trying for some especially when other altcoins are suddenly rallying. It is unclear where SNT want to go as volume has been declining since the initial rally. Despite this, it is possible that that the real rally has just begun with the new of SNT joining the Enterprise Ethereum Alliance (EEA). Or perhaps the rally was early positioning in order to sell the news. Watch the triangle for a breakout if looking for entry or breakdown if looking for exist. Considering that SNT just bounced off the 100MA on the 1hr it is likely to be a breakout but only patience will reveal the answer. I'm still long with a protective stop @ 0.00000585 (Banking on that hidden bullish divergence). Play it safe. 