AUDIO BREAKOUT! RESTESTING RESISTANCE! AUDIO broke out from a bull pennant / above multiple SMAs and is now retesting the bottom of the resistance zone around $3. I expect a retest of support before it can break into/above that zone, but you never know. This is looking like a reversal from the short term downtrend AUDIO has been in, but it will have to keep putting in higher lows.
targets are marked by red lines and possible reentry levels by green dashed lines. Keep an eye on AUDIO!
A similar setup was recently posted in the Crypto Revolution trading group, and now that we've had a confirmed breakout, I would expect to see some more volume / volatility in the coming days/weeks.
happy trades,
CD
Audio
AUDIO kills the radio starsHi to all my 🎵AUDIO🎧 fellas. This is my take:
Audius is breaking up this triangle , so I think there is chance for run to 2.77 and even higher.🔊 Buying now.
ENTRY : local high @ 2.42 and lower
SL : local low @ 2.31
TARGET : height of the triangle projected from midpoint of the local range (BUY - SL) @ 2.77
RRR : 3.5+
INVALIDATION : when SL level hit
Like👍 & Enjoy🍿!
🔥 AUDIO Bull Flag Break OutAfter seeing incredible gains during March, AUDIO has seen a very strong correction in April, where it lost more than 70% of its total value at one point.
Since two days, bullish investors have regained control of the market and started buying up crypto assets. This caused the immense gain of AUDIO over the last three days. Furthermore, this bullish push pierced right through the bearish channel's resistance, causing a bull flag break out pattern.
Happy trading!
AUDIO 4 HF TFAUDIO 4 HR TF
Fundamentally speaking, this project seems solid.
There some big artist in the scene that use this platform as well as other reasons.
Technically speaking, it is a great buy level!
Market cap is still relatively decent too.
I would love to see a double bottom form at the recent lows before jumping in!
Short term targets are the yellow box
As always, keep the risk managed! :D
Audius $AUDIO still headed to $12+ by June after slight delayThe market may have sold off a bit, and technically this was due, but nothing has changed fundamentally about Audius/$AUDIO since my last chart.
Still projecting $AUDIO to bounce hard of it's recent low around $1.41 (a clear oversold level) to break the previous ATH of $5 and on to the fib line in the $12 - $13 range by mid June!
$AUDIO staking yields are still around 29% APY as initial investors and artist continue to acquire, accumulate and HODL AUDIO tokens. Audius is not only the future of music, but the future of digital audio, audio distribution and audio/music creators distributing their work directly to fans/buyers.
A few of the fundamental developments of The Audius Project (www.audius.co) I'm still expecting we'll see over the remainder of 2021 are as follows..
- Major musicians and artists joining every day and tweeting about it or mentioning it on the radio, tv, shows, events, etc.
- Major promos/partnerships with Top 20 global music producers/artists like Justin Bieber, Lady Gaga, Lana Del Rey, The Weekend, Cardi B, BTS , Drake, Billie Ellish, etc. etc. - branching out beyond major EDM artists and producers.
- User numbers and user growth rate increasing every week/month
- Coinbase/Gemini listing of AUDIO along with other top tier CEX listings like Kraken, Huobi, Kraken, etc.
- Grayscale announcing they're considering an AUDIO trust.
- Series B round of funding $30M - $50M likely coming in 2021
- VIP account tier perks rollout along with token economics and monetization
- How fans and artists benefit from the platform... WITHOUT the need for ads!
- How Audius earns revenue as a business
- Songs/Albums released as NFTs, music related NFT drops, music event ticketing and other perks related to NFTs
- Integration with blockchain games and metaverses
- Integration with virtual events, concerts, festivals
- Roadmap detailing plans to expand Audius beyond just music, into audio books, podcasts, events and ticketing.
- Artists launching their own custom tokens or NFTs on Audius
- New apps launching in the Audius app store that allow artist and fans to do things with music they could never do before.
If even a few of these things come to fruition, I would expect $AUDIO to have a fully diluted market cap of $50 to $100 billion within the next 5 years (~$50 AUDIO token value)!
Audius will be much bigger than Spotify which currently has a stock market cap of about $50 billion.
This is not financial advice, I'm not a financial advisor, do your own research (DYOR).
As always, enjoy the ride!
Rounded Bottom idea for $AUDIOUSDTThis is a daily chart for Audius $AUDIO.
I've traded $AUDIO plenty of times these months, always been very profitable but in this occasion made a mistake getting greedy on the April 12th breakout candle. I had scalped it twice and took profit every time it retraced and reentered after. I should´ve seen the decreasing volume on the histogram (white segmented line) coming and was left hodling the bag.
But the resulting price action moving towards the upper trendline of the flag turned out forming a RB pattern.
I expect this to range maybe for 2-3 days before actually resuming it's climb and start a parabolic move to close the cup.
I'm still in play...
More ranging expected at every highlighted FIB level.
$AUDIO should break $5USD with the completion of this move.
$AUDIO Potential Falling WedgeContinuation pattern forming on both USD and BTC pair for AUDIUS..
Interesting project..
Could see a continuation of uptrend soon.
MFI is oversold, RSI looks like it's finding some support.
Stochastic RSI price action is flat, looking for a crossover and move above 20 there (not displayed here), would wait for confirmation of these factors and a break to the upside out of this pattern in order to go long, however, it is ALT season, and thus, finding good quality projects which are yet to fly, or taking a breather and forming a continuation pattern is always a solid R&R strategy.
AUDIO UPDATE - Short term downside, Re entry IdeasAll the info is written on the chart.
Still long term bullish, but I still expect some more short term downside based on the chart.
The green dash lines are possible re-entry levels, but they're subject to change with market conditions. Scale in and consider using stop loss orders to conserve capital in case of more downside.
happy trades,
CD
audio/usdt AUDIUS Grounds:
1.Audio has an efficient app already work and at the beginning of April had 3 million users
2. Audio is on the Grayscale product list
3. It bounces off the trendline a second time and is still in an uptrend
4. As the first and only music application that starts with the NFT, which has a huge hype.
5. You can see a huge power of buyers last month.
6. Bitcoin broke the limits of 60,000 which probably heralds another ath for alcoins.
7. Price 2.5 $ at 3 million + users, for example soundcloud 250 million, apple music 50 million
8. No Ads
9. Support from deadmause5 and others
10. Strong lineup of creators.
In my opinion, audius is undervalued and has a huge potential for gains of $ 8-10 and then $ 20+ easy
🔥 AUDIO Potential Reversal From Strong SupportAfter seeing incredible gains during March, AUDIO has cooled off a little. Currently, AUDIO is residing near the bottom of the trend line, potentially bouncing off from it.
Seemingly, AUDIO is at the start of a new bullish period. Higher highs and lower lows have been formed in the last two weeks. I'm confident we will see more price action soon.
Happy trading!
AUDIO to erupt soonBased on the current Trend, and the step fall it has had for the past few weeks, we could see a few days, if not till the end of the month it could consolidate, seeing as now the major alts are pumping.
This said, Audio has been breaking resistance points for the past few days, and there was a major buy signal on the 12th of April which could also indicate that another run up is coming, but on the other hand it has met a hard resistance at the 3.18 price point, so we could be hitting that celling for a few days before actually breaking it, but this is just my technical analysis.
This year so far it had an incredible run, it makes sense for it to catch it's breath and have a down trend.
Although this coin has still a long way to go, and has incredible potential seeing as there aren't any other music streaming blockchains out there, and they have an amazing team and advisors backing them up.
I see this coin goin a long way and it could end up being a contender of Spotify in the very near future.
NOT FINANCIAL ADVICE! DO your own Research.
🌧️ AUDIO Possible BreakoutAUDIO has been in a descending wedge for a while now. Compared to the other run ups, AUDIO didn't go up as much, and has since retraced back down to lower levels. AUDIO has around 4 million active users now and growing, and could become a decentralized Spotify in the future. Expect a bullish run soon once volume starts to pick up. Higher risk taking individuals can consider buying in at these lows before the pump. Otherwise, wait for the break of the resistance line on the wedge.
AUDIO UPDATE: NFT NEWS PUMP!After a massive 3000% run up over the past few months, AUDIO entered a steady retrace as most altcoin PA stagnated due to BTC volatility.
However, 4 days ago the Audius team announced planned NFT integration, covered by coindesk here:
www.coindesk.com
Anything NFT related is getting a lot of attention / bullish investment, so this news drop was a well-timed attempt to stop the bleeding.
Unfortunately I think this news largely went under the radar as BTC stole everyone's focus the last few days.
Perhaps now people are hearing about it because sure enough, despite bearish short term technicals, today the price pumped, breaking out with volume.
The question is - is this news enough to reverse the short term downtrend? Or is this a case of "buy the rumor, sell the news?"
Short term technicals have shifted bullish on this pump. Stoch & MACD are oversold & angling upward on 12HR and 1D TFs, and the volume does add validity to the breakout. These indicators still look pretty bearish on 3D and Weekly though. So I'm kinda on the fence.
It would be more compelling to see a third bounce around the 200MA / recent support. I would consider that an aggressive entry point at this time, but who knows. If enough people fomo into this pump, we could see another run up sooner than expected.
happy trades,
CD