We are using the March/April sell-off of 2022 as a reference for where we are in the market, in terms of the "follow the leader" stance of what BTC is doing and how the rest of the market will follow.
ETH is now approaching this, and SOL is on its way, so playing this domino effect, it's likely the alts will follow suit and start to leave their mark.
With this, if we take a look at SNX, it may be lining up for a great spot play.
Looking at where it is in reference to the March/April sell-off and the potential 90% gain you can get from this. The 4.2 level is the point we are looking at for our LOI, but a spot buy even now will see an upside.
If this level does get flipped to support, we could look to maybe be more aggressive with a leveraged play.
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