Sandbox (SAND) price analysis for futures trading edition 53.
Hi Traders, Welcome back to the @gitshock.trading blog, where you can find out about potential daily analysis of the crypto market. With me, Jerry, we will discuss the Sandbox which this afternoon, suddenly perched in the top gainer of the derivatives market. Interesting to discuss, do we have the opportunity to trade on the Sandbox? Let's go straight to the analysis. Let's go!!!
market structure sanbox
It is clear that the price is in an uptrend or upward movement. This implies that there is an opportunity for us to make a buying position. In the trendline area, there is an order block that becomes a profit, an area for buying positions. The question is why I chose that area, and let's dive into it again by looking for the probability, the greatest possibility of increasing the Sandbox.
fibonacci level
Menarik sekali area yang jadi order block dan juga entry merupakan level fibonacci 0.50 yang merupaka golden rasio untuk retracement area untuk pemantulan harga.
But we have to look for other confluences, such as the dominance of USDT, to see the probability of altcoins strengthening in the crypto market in the near term.
USDT.D
There is a weakening of the dominant USDT in the crypto market, which tends to be the opposite to altcoins and also bitcoin, which tends to strengthen. Now this is a good confirmation by looking at the market sand structure, which tends to strengthen upwards.
So that's it for today's market analysis update. For friends who want to start trading on the futures market, you can follow the steps below. This
- Entry : 0.8757$
- Stoploss : 0.8562$
- Take profit : 0.9609$
Keep in mind that my analysis is specifically for market derivatives, but if it is used for the spot market, I don't recommend it this time, because the distance to take profit is only 9.7% of the price movement.
REMINDER
Although the analysis that we find provides a lot of confirmation, it must be remembered to keep trading risks. I don't get bored. I always remind you this because this is very important and crucial when we trade in the futures market. Risk, risk, and risk. So use 1% of your total equity to risk loss if this analysis fails, and when it fails, we only lose 1% of equity. And for rewards, I see there is a potential reward from this analysis of 1: 4.3, and this is a very good derivative trading reward.
Okay, that's all from me. Thank you to friends who have taken the time to read this article. Oh yes. For data analysis, I take the data from the chart Bybit.
And also for admins and moderators. @steem-database I hope that this post on technical analysis can help friends in this community learn about the crypto futures market, as well as serve as a means of sharing analysis and, hopefully, be useful.
The reward from this article will be donated 25% to @null for the development of the Steemit community.
Mantap that bang analisa jih, semangat sabe 😊💪
yang nyoe keuneng stoploss hahaha
na update jih bak ata baroe.
hana medaleh nyan sige ge 😂