ASM - Bull Flag

#652

Low rank and ultra volatile Assemble AI is printing a shallow descending wedge.

It looks like it might be a bull flag with plenty of pop.

Not advice

Trade active

ASM

Is now rocketing out of the 3 wave correction.

Notice the bull flag into that breaks out but only to print a Wyckoff UT UpThrust slightly higher high bull trap.

Crypto loves this move.

Looks like the next wave up here 🚀.

Note

I'll be taking a break here.

Congrats if you are holding ASM - its looking great 🚀.

Good luck in your trades 👋🏻

Trade closed: target reached

ASMUSD / (BTC)

In terms of percentages, ASM has been pumping hard; up 140% from the recent low to the peak that just passed...

But yet it is still in an accumulative area of the chart; and this just shows how extremely volatile this coin is.

The chart offers big gains to the upside but also sharp losses to the downside.

In this recent pump it has been moving against the market that has been bearish since mid December.

And just now it is printing an upper wicked candle as the market dumps.

This upper wicked candle has printed just above resistance in higher liquidity.

This increases the odds that a significant reversal can arrive in this area.

That in combination with it having moved against the market, makes this quite dangerous up here.

And its certainly not impossible that this could become a higher time frame bull trap shakeout and take out the previous low that would see my position erode 60%+.

And so I've made some nice profit on this dangerous coin but there are now other coins in much better positions to buy with far less downside risk.

ASM may yet somehow hold and pump, but this is a game of probability and to win it is all about having the odds in your favour and not taking unnecessary risk.

So i'm selling 100% here and this trade is done.

Congrats if you bought the dip ✨.

I made 55% profit on this 👍.

Hopefully you've enjoyed this recent burst of content on TradingView.

There have been some really great calls

This will be my last post on TradingView for a while.

Good luck in your trades 👋🏻.

Note

Current price $0.042 back below my profitable exit.

Hodlers go up, hodlers go down; just like plankton in the sea.

The question is where is this sea heading...💭

Of course if you ask them they'll tell you they sold the top, probably with some noob TA 😅.

Note

ASM now way down from my exit, looks ready to sh*t the bed while other coins are having big pumps from deep.

Are you fanboys starting to see why I took my 55% profit and moved on...

Note

"ASM, she’s on coke lol. 30% weekly candles happen often."

Well she's on Xanax now 😄

Note

Big pumps in altcoins but ASM doing nothing and still well under where I took profit.

GG.

Note

When arrogant kids that have done 0 work talk of "selling the farm" you know a major smackdown is coming.

ASM looked good for a while but it became clear that it was actually corrective to the upside.

Now its impulsive to the downside.

dRends35

Your FA guru can't read a chart💭

I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.

Better than all the rest? My record speaks for itself 💡.

Telegram Group: $50 per month✨.

Contact: t.me/dRends35

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dRends35

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