SANDUSDT - major bearish divergence, de-risk and/or tight watch
Updated
Major bearish divergence spotted on SAND, which is making all time highs but on much lesser volume compared to the previous ATH. This is not a good sign as volume often precedes price action.
Not a critical event but worth keeping a closer eye on. Do not add to position until price catches up with volume. De-risk your position if you are using futures, or at minimum keep vigilant at follow your favorite trailing stop.
Not a critical event but worth keeping a closer eye on. Do not add to position until price catches up with volume. De-risk your position if you are using futures, or at minimum keep vigilant at follow your favorite trailing stop.
Note
This... Did not aged well. Upon retro, i noticed the RSI remained bullish as did OBV. In fact even MFI which was what i used above, did keep relatively close to 80. Price structure also showed an obvious ABC pattern, with somewhere like 3.2 as the neckline and a clear stop loss position.
Then again, i did not say SELL, just have a careful look if you have existing position. This goes on to show that massive momentum plays need to be respectie (ADX never dipped below 30).
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