Market Notes｜$SAND ｜Holding above the 0.065 level
First, a caveat: The longer it has been since the price last reached this level, the more the distribution of positions around it may have changed. Support and resistance from back then may no longer hold.
How to read it: When price repeatedly swings back and forth near this level, both bulls and bears can easily get shaken out. Staying on the sidelines until the direction becomes clearer may be the safer choice.
Several indicators confirming one another is more reliable than relying on just one, but even a large number of indicators cannot provide certainty.
First, a caveat: The longer it has been since the price last reached this level, the more the distribution of positions around it may have changed. Support and resistance from back then may no longer hold.
How to read it: When price repeatedly swings back and forth near this level, both bulls and bears can easily get shaken out. Staying on the sidelines until the direction becomes clearer may be the safer choice.
Several indicators confirming one another is more reliable than relying on just one, but even a large number of indicators cannot provide certainty.