ðĨ SAND Follows EXACT Bitcoin 2018 Bear Fractal: Final Dump
A couple of weeks ago I made an analysis where I made a comprehensive analysis of SAND's market structure versus the Bitcoin 2018 bear market fractal. See the post below.
As seen on the chart, the above analysis was pretty spot-on. Furthermore, looking at the current chart and state of the market, I think there's still more pain ahead for SAND and crypto as a whole.
Since SAND is following the BTC fractal pretty closely, I think we are now in a dead-cat bounce and will see more bearish pressure soon. BTC bottomed out around $3500, which was the support which triggered the late 2017 parabolic move. If the fractal holds, we can expect SAND to fall all the way towards the $0.75 area, which was also the support area which triggered the parabolic move back in November. This would indicate that we can fall another ~50% from the current level before bottoming.
The above is also in line with my most recent BTC analysis, where I state that we're likely going to make a move towards the 200-week SMA.
Be aware; no one can predict the future , and price patterns/fractals are valid until they aren't, take them with a grain of salt. However, try to keep an open mind.
As seen on the chart, the above analysis was pretty spot-on. Furthermore, looking at the current chart and state of the market, I think there's still more pain ahead for SAND and crypto as a whole.
Since SAND is following the BTC fractal pretty closely, I think we are now in a dead-cat bounce and will see more bearish pressure soon. BTC bottomed out around $3500, which was the support which triggered the late 2017 parabolic move. If the fractal holds, we can expect SAND to fall all the way towards the $0.75 area, which was also the support area which triggered the parabolic move back in November. This would indicate that we can fall another ~50% from the current level before bottoming.
The above is also in line with my most recent BTC analysis, where I state that we're likely going to make a move towards the 200-week SMA.
Be aware; no one can predict the future , and price patterns/fractals are valid until they aren't, take them with a grain of salt. However, try to keep an open mind.
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