The Sandbox Grew 14,605% In 2021 vs Bitcoin —What About 2025?Do you believe that this pair will continue going down forever?
If you answered no, I agree, it won't go down forever and right now it seems a great time, a great price and a great level to see this market turn.
Good morning my fellow trader, I hope you are having a wonderful day.
Here we have The Sandbox vs Bitcoin (SANDBTC) with some pretty interesting dynamics.
The October 2020 failed support and the February 2021 failed resistance are the levels that have been activated now. This is truly long-term.
As soon as SANDBTC went live for trading, it moved to produce a v shaped bottom. The neckline of this pattern has been activated after a long time. This level can easily become a reversal point and here is shown green on the chart.
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Apart from the activation of a long-term support we have a few more signals to consider.
➖ Marketwide action. Many Altcoins already broke bullish on their Bitcoin (BTC) pairing. These are hitting bottom between April and September 2024.
➖ Market cycle. These Altcoins vs Bitcoin pairs only move when the market is either strong or set to become really strong in the near future. 2025 is only months away and Crypto will be super strong in 2025, thus we are seeing early reversal signals.
➖ MACD bullish divergence. The weekly MACD for SANDBTC bottomed June 2022, a very long time ago, and right now it has a clear upward bent and is about to enter the bullish zone.
➖ RSI bullish divergence. While SANDBTC hit its lowest price in years just two weeks ago, late September 2024, the RSI bottomed in September 2023. In this case we have a year long bullish divergence. The RSI also produced a long-term double-bottom pattern. It is still weak but starting to recover.
It is early for The Sandbox vs Bitcoin (SANDBTC) but I wouldn't have it any other way. It wouldn't be comfortable for me to show you this chart saying, "look, it is pretty late."
Early is best of course because we get the time to plan and prepare.
Early is best because if we get a bottom price we can enjoy maximum profits potential once the market enters its bullish phase.
We have high expectations for this pair. In 2021, SANDBTC grew an astonishing 14,605%, this is while Bitcoin was growing and hitting new All-Time Highs everyday. It is amazing to say the least, we hope to see something amazing once more.
Thank you for reading.
Namaste.
