relievedHawk1

Time to short Sand - again?

BINANCE:SANDBTC   SAND / Bitcoin
In this post, a quick look at the SANDBTC pair, price action seems to show little to no effort to try and get past the Tenkan sen. In the past days it's found temporary support (dark blue line) while making lower highs, in a descending triangle fashion although I won't consider it as such because I prefer starting to count the lower highs within the triangle after the price has first found support, so just consider the orange dotted line as a simple resistance; nonetheless, the message conveyed by the price action stays the same, and I see no will to fight back from buyers. One thing that could argue for a reversal is that we've traded quite far away from the Kumo cloud for a while now, and the current price is a "fairly big but not huge" 12% away from the 25D MA: nothing really meaningful though until we get a clear sign of reversal from the PA, I believe. Ultimately, bias seems to be bearish for now. I probably won't be taking any trade myself for the moment, this post is for an information purpose mainly.
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