Chibuike_Odoh

SANDUSDT { THE SANDBOX } - BULLISH SETUP

Long
BINANCE:SANDUSDT   SAND / TetherUS
ANALYSIS πŸ”Ž
- SANDUSDT was bounded in the descending triangle pattern.
- Price brokeout above the descending triangle's inclined resistance.
- This is a bullish signal.
- The market hit a swing high and retraced.
- Price is retesting the descending triangle's inclined resistance and the key fibonacci retracement zone (0.5 - 0.618 - 0.786).
-There's a relatively high concentration of buyers at this zone.
- The retracement is resisted by the descending trendline resistance.
- A breakout above this descending trendline resistance could be a bullish signal.

BUY ENTRY ⬆️
- Conservative entry: breakout above the descending trendline resistance.
- Aggressive entry: Fibonacci retracement levels.

TARGETS 🎯
- Horizontal resistance level (@0.62986).
- Horizontal resistance level (@0.66488).
- Fibonacci extension levels.

SETUP INVALIDATION ❌
- Breakdown below the 0.786 fibonacci retracement level.

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