SAND Short 200 DEMA denial

I am calling a short term short on SAND based on the recent 200 DEMA denial coming on strong volume on my one hour chart. As pointed out in my chart this is the second strong denial of the 200 DEMA in the last handful of days.

SAND just does not simply look ready for a breakout, I believe it will continue to trade in this current channel until the fear/greed index starts moving out of "extreme fear" and towards neutral/greedy.

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I am expecting a move downwards towards $5.11(BBand bottom value right now) from current price of $5.61 over the next 12 hours. Right now there is 17 min left on the 05:00 hour. Volume appears to be on track to be over moving avg but has failed to move the price upward at all. In fact it is slightly down at the moment.

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Credit: alternative.me/crypto/fear-and-greed-index/

for the Crypto Fear & Greed Index

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about 20 min into 06:00 and SAND is still being denied by the 200 DEMA on a green (so far) hour

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15 min left in the 06:00 hour and volume has gone over moving average and candle has just turned red, looks like a confirmation of the strong denial at the 200 DEMA with a long wick (shadow) tagging the 200 DEMA and retracing which confirms the assumption that SAND is not ready to break out of its channel for now

CryptoSlayerFX

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CryptoSlayerFX

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