Synereo AMP BTC short term Bull Flag pending breakout
Updated
Synereo AMP / Bitcoin BTC 2 hour candles
Yesterday I posted long term analysis on AMP here:
My mid-/long term analysis is still relevant at the time I'm publishing this 2 hour candle chart, so feel free to take a look at the mid-/long term chart as well. Because I received some requests to publish the live chart for a short term view as well, I decided to publish this 2 hour chart.
AMP successfully broke out of the short term falling wedge from my February 21st analysis and is resuming its course towards the long term descending triangle ceiling, to test it for another break attempt on the mid / long term chart. Short term Synereo AMP is flagging and searching for the timing to break out from this bull flag. It looked like it was about to break upward yesterday, but the rapid Bitcoin price fall probably interfered with that (trade cautious, Bitcoin is still volatile).
Synereo announced it will have a coin burn this march. One third of the coin supply will be burned this month, which will make it more scarce, and will probably influence the price in a positive manner. blog.synereo.com/2018/03/06/synereo-to-burn-100000000-worth-of-amps/
You can use this chart analysis to assist you in trading, to help you identify trading patterns, trend lines, support and resistance zones you can monitor for breaks.
Personally I only enter trades after I witness a break confirmation and set layered sells slightly below resistance targets. My analysis is not financial advice: you should never invest solely upon reading my or another persons TA and always do your own research: explore news, social media, white papers, tech info and so on.
Be extra cautious during these times of Bitcoin, where BTCUSD fluctuations can easily disrupt trends of other coins. Monitor your investment and set alerts and stop loss orders in place.
I hope you like my charts, if you do; please hit that like button so they move up in the list for more exposure :)
Happy Trading! ~ CryptoJC
Yesterday I posted long term analysis on AMP here:
AMP successfully broke out of the short term falling wedge from my February 21st analysis and is resuming its course towards the long term descending triangle ceiling, to test it for another break attempt on the mid / long term chart. Short term Synereo AMP is flagging and searching for the timing to break out from this bull flag. It looked like it was about to break upward yesterday, but the rapid Bitcoin price fall probably interfered with that (trade cautious, Bitcoin is still volatile).
Synereo announced it will have a coin burn this march. One third of the coin supply will be burned this month, which will make it more scarce, and will probably influence the price in a positive manner. blog.synereo.com/2018/03/06/synereo-to-burn-100000000-worth-of-amps/
You can use this chart analysis to assist you in trading, to help you identify trading patterns, trend lines, support and resistance zones you can monitor for breaks.
Personally I only enter trades after I witness a break confirmation and set layered sells slightly below resistance targets. My analysis is not financial advice: you should never invest solely upon reading my or another persons TA and always do your own research: explore news, social media, white papers, tech info and so on.
Be extra cautious during these times of Bitcoin, where BTCUSD fluctuations can easily disrupt trends of other coins. Monitor your investment and set alerts and stop loss orders in place.
I hope you like my charts, if you do; please hit that like button so they move up in the list for more exposure :)
Happy Trading! ~ CryptoJC
Note
AMP was about to test the flag ceiling again today, but Bitcoin acted up and AMP is moving back towards the middle of the flag. Here is a 30 minute snapshot for those who are following it right now. Note
An hour after I posted the 30 minute chart update, AMP hit the "super short term downward target" and went down to 3760 satoshi. It bounced up a bit and is flagging upward since. It will probably try to test the purple flag ceiling line(s) again.
I have noted the updated short term targets in the event of an upward or a downward break:
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