Hi,
Welcome to this analysis about SAND/SANDBOX and the 4-hour timeframe perspective. When looking at my chart we can watch there how SAND has initiated this main descending-channel-formation marked with the blue boundaries and the wave-count reaching from A to C to the downside. Now SANDBOX also established an important support base within the 4.855 level from where several bounces occurred also matching coherently with the lower boundary of the descending-channel and the ascending-trend-line marked in dashed grey. Now as SAND bounced off the 4.855 USD Level marked in orange SAND continued to develop a main double-bottom-formation with the first bottom and the second bottom already completed. If SAND now manages to hold the structure appropriately and bounce off within the range this can be an appropriate origin for a breakout to the upside which will offer the first descending-channel-breakout-setup and once this happened when SAND continues with further bullish-demand-increasing it will show up with the second confirmation above the neckline of the double-bottom. Both confirmations will activate the main upper-target-projection as a target-zone and once this zone has been reached the situation needs to be elevated anew, it will be an important development ahead.
In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best!
"Good fortune is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the markets.
Welcome to this analysis about SAND/SANDBOX and the 4-hour timeframe perspective. When looking at my chart we can watch there how SAND has initiated this main descending-channel-formation marked with the blue boundaries and the wave-count reaching from A to C to the downside. Now SANDBOX also established an important support base within the 4.855 level from where several bounces occurred also matching coherently with the lower boundary of the descending-channel and the ascending-trend-line marked in dashed grey. Now as SAND bounced off the 4.855 USD Level marked in orange SAND continued to develop a main double-bottom-formation with the first bottom and the second bottom already completed. If SAND now manages to hold the structure appropriately and bounce off within the range this can be an appropriate origin for a breakout to the upside which will offer the first descending-channel-breakout-setup and once this happened when SAND continues with further bullish-demand-increasing it will show up with the second confirmation above the neckline of the double-bottom. Both confirmations will activate the main upper-target-projection as a target-zone and once this zone has been reached the situation needs to be elevated anew, it will be an important development ahead.
In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best!
"Good fortune is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the markets.
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►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.