Bullish: Synereo AMP Bitcoin broke out of Falling Wedge
Updated
Synereo AMP Bitcoin 1 day candles
AMP successfully broke out of the short term falling wedge from my February 21st analysis and resuming its course towards the long term descending triangle ceiling, to test it for another break attempt. I have indicated the (Fibonacci) support and resistance zones for you to monitor.
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.
If you enjoy my charts a like is always appreciated.
Happy Trading! ~ CryptoJC
AMP successfully broke out of the short term falling wedge from my February 21st analysis and resuming its course towards the long term descending triangle ceiling, to test it for another break attempt. I have indicated the (Fibonacci) support and resistance zones for you to monitor.
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.
If you enjoy my charts a like is always appreciated.
Happy Trading! ~ CryptoJC
Note
- 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/Here is a zoomed in 30 minute candle view on AMP BTC.
AMP is moving in a short term (blue) pennant within a descending (green colored) channel. I have marked the support and resistance zones you can watch for a break or bounce.
Note
At the time of writing this comment the 1 day candle chart with mid to long term analysis is still relevant / actual.I have also posted a live chart for the short term, 2 hour candles, view here:
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