Short
AST looking to break out once past 0.00004
Hello everybody!
I'll first say that this is the first idea that I've published, so be gentle.
As many others on $BINANCE:ASTBTC have pointed out, it looks like it's about to break out. I'm basing this off of the 4-hour chart, where the 20 and 50 EMA are about to cross the 200 EMA, and have already crossed the 100 EMA. RSI has just poked its head above 70, Stoch RSI has done the same over 80, and the Volume Flow Indicator has popped above 5 for the first time since Feb. 10. MACD also crossed on April 7, and the Bollinger Bands have squeezed significantly on the daily chart.
I'm looking for it to blast through 0.00004 because there's some nice resistance there, both from the .786 fib from the climb back in Dec. 2017-Jan. 2018 and the spikes on April 3rd and 7th. The 50 EMA on the daily chart also runs through there. As usual with altcoins, this is dependent on
BTCUSD cooperating. A good entry point would be 0.0000402-0.0000405.
Timeline-wise, I expect it to break out in the next couple of days, if not today. For the whole play, once it pops, it could be about 6-10 days, but that's just a guess.
Once it breaks past 0.00004, I expect the first target to be just below 0.000045, which is where it stopped on March 26.
Next target after that would be 0.00004981, just below the psychological barrier of 0.00005, which is the .236 of the downtrend fib starting from the 0.00013514 that was reached on January 27.
If it breaks through those two, it could gain some serious momentum and make it to around 0.000066, the .382 fib. In the best case scenario, it could do a complete .618 retracement and go for 0.000092.
Insert the usual "this is only advice, trade at your own risk" statement. I'm not responsible for your actions based on this post!
Happy trading!
Daily chart:
I'll first say that this is the first idea that I've published, so be gentle.
As many others on $BINANCE:ASTBTC have pointed out, it looks like it's about to break out. I'm basing this off of the 4-hour chart, where the 20 and 50 EMA are about to cross the 200 EMA, and have already crossed the 100 EMA. RSI has just poked its head above 70, Stoch RSI has done the same over 80, and the Volume Flow Indicator has popped above 5 for the first time since Feb. 10. MACD also crossed on April 7, and the Bollinger Bands have squeezed significantly on the daily chart.
I'm looking for it to blast through 0.00004 because there's some nice resistance there, both from the .786 fib from the climb back in Dec. 2017-Jan. 2018 and the spikes on April 3rd and 7th. The 50 EMA on the daily chart also runs through there. As usual with altcoins, this is dependent on
BTCUSD cooperating. A good entry point would be 0.0000402-0.0000405.Timeline-wise, I expect it to break out in the next couple of days, if not today. For the whole play, once it pops, it could be about 6-10 days, but that's just a guess.
Once it breaks past 0.00004, I expect the first target to be just below 0.000045, which is where it stopped on March 26.
Next target after that would be 0.00004981, just below the psychological barrier of 0.00005, which is the .236 of the downtrend fib starting from the 0.00013514 that was reached on January 27.
If it breaks through those two, it could gain some serious momentum and make it to around 0.000066, the .382 fib. In the best case scenario, it could do a complete .618 retracement and go for 0.000092.
Insert the usual "this is only advice, trade at your own risk" statement. I'm not responsible for your actions based on this post!
Happy trading!
Daily chart:
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.