Updated

AST/BTC - Potential breakout

Low market cap, low volume ( may be volatile in a price movement) . Falling wedge into the last wave of correction ( c ).

Chances are it will bounce on the first box, hit the upper line of the wedge and then come back down to the slimmer box before taking off. As always, watch for divergence and VOLUME , volume is more important, especially on coins like this!

Not an active trade since the risk to reward ratio is not good atm, but definately something to keep an eye on! I will update as we get more data.

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Felt out of wedge and into the box, some action appears, still low volume.

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Well, as with every alt that tries to breakout the past days, it gets shut down by long week which idicates high sell pressure.

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long wicks*

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This is our potential 1st wave up. Volume was there, it hit the top of the wedge. Long wicks= high sell pressure, watch for the next opportunity, it might appear soon.

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It has a completed 5 waves structure on smaller time frames (30mins), watch for a retracement at the 5k - 5.1k sats area. RSI DIV so its correcting atm.

Always wait for the volume for confirmation and please dont forget that its a low market cap coin which makes it more volatile and easier to manipulate.

BTC pairs are always tricky, so if Bitcoin drops further this may have a fail impulse and correct further aswell.

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BBs are squeezing in, price is stabilizing, this might make a move soon.

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It reached the bottom, but it can go lower. BB showing extreme volatility, oscilattors oversold, it may bounce a little but probably not enough for a higher high.

So! Set your alarms, for now . :)

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Moving nicely overall. Higher highs, lower lows. It has extreme volatility -as expected- so there are some short term chances for a quick proit.
Next chance for a bounce at the slimmer box. I will re-evaluate my count soon(TM) and provide more precise targets.

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More down trend to follow here, minimum at the slimmer box and probably even lower depending on BTC. Altcoin season coming soon.

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Ast has reached temporary bottom here, just in the end of the slimmer box, it has a chance for a short term bounce. I will refine my waves and provide an update soon.

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Bottom soon on AST. Low market cap coins have pretty long wicks because of flash crashes (and you have to ignore some of those as pivot points).
I corrected the initial count so this one should be more precise. Also its right at the edge of the falling wedge. FIbs and EW confirms.

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The smaller 3rd wave went lower than expected, I cant count smaller ones on this because of the long wicks, so we will work with the retracement of the forth for the final target.

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92% retrace on AST, that should be a market cycle. Multiple dives favor a short term uptrend movement and most likely followed by a retest of that low.

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It seems like AST is done correcting after retracing 92% and going slightly below the buy zone.

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Dont FOMO. :)

Acel

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Acel

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