SAND - A continuing Idea - Is it ready to go up?
Updated
Hello traders, happy hump day! :D
This idea is stemming from the related idea I have linked.
I think SAND has entered and started it's reversal from BEAR to BULL.
There is still a bit of support on the bottom though, down to .59.
I do admit, it could be slightly early, but I am going with my gut this time because the last couple of days I have decided to just stay. I missed out on a few like AXS because I hesitated.
It's possible SAND doesn't even rally that high, and BTC and ETH's impending doom to ~20k might invalidate this.
This idea is stemming from the related idea I have linked.
I think SAND has entered and started it's reversal from BEAR to BULL.
There is still a bit of support on the bottom though, down to .59.
I do admit, it could be slightly early, but I am going with my gut this time because the last couple of days I have decided to just stay. I missed out on a few like AXS because I hesitated.
It's possible SAND doesn't even rally that high, and BTC and ETH's impending doom to ~20k might invalidate this.
Note
I apologize about the divergence image being behind the chart. Here is a better view.i.ibb.co/2PzymRy/Screenshot-2021-08-10-173200.png
i.ibb.co/2PzymRy/Screenshot-2021-08-10-173200.png
Note
Looks like overnight stoch rsi formed a continuing bear trend.The good news is, there could be a incoming reverse. The Stoch RSI hasn't completed its current next direction. But it looks like it will have an upward slope while having a downtrend. I am waiting for that to happen to confirm.
Note
IMO Even better news to update!!Not only do I see a Div. Reversal trend here, I also see it formed a double bottom in doing so.
Two patterns that indicate a move to the upside.
FINGERS Crossed.
FWIW, I am in trade already. I should have waited a bit, but I set a trailing buy and well, it got triggered.
Note
WOOPS, meant to just say that the above update will require confirmation from stoch rsi only since it hasn't formed a new bottom hump. The line i drew on the stock is 'approximate'. Take it with a grain of sand.My RSIX, which is RSI and Volume based RSI, did have the humps to 'confirm' for both indicators.
It's also possible that instead of going up into an uptrend, we might be in a Wyckoff Accumulation scheme. My reasoning behind this is from what I know about BTC and ETH. Both are going to DIP, because they are both in this wyckoff phase I just mentioned. They appear to be going down to 'spring'. Sand could be starting Phase A. Time will tell as I watch SAND move.
Note
Off to a doctor appointment for my Great Dane Archie, as I was on my way out one of my Indicators for detecting Divergences went off with a bull indication!!The stoch RSI made it's hump.
I am still on the look out, nothing is certain or guarenteed.
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Validator website and Cosmos Blockchain Unbonding Charts: thesilverfox.pro/
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