AMP2USD trade ideas
Potential breakout downwards for AMPOn the short term I think amp is looking to have a move downwards before it goes up. The BB are showing a near breakout, theres a descending triangle thats formed, and the long term(50) moving average is above the short term(20) moving average. Love to hear your guys' thoughts on AMP in the near future
#AMP Token 1D - Downside with supportAMP broken below the rising trendline it has been forming since March 2021. It broken below the trendline in September 2021, but went back above it in early November 2021. If we see a further correction in price, we could go to the bottom of the rising channel around 0.043-0.044. If it goes below that channel, we could get supported by a prior high around 0.038 - 0.04 range.
Lastly, keep an eye on the RSI as it seems we are bouncing off of a trendline as well and it may be headed down there for another bounce.
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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
Thoughts on this 12345 Elliott Wave plot?So going off of my first published idea of the Flat 3-3-5 ABC Correction from June 16 to Oct 27, I've read that flats are typically found in the 4th wave position of the Elliott Impulse Wave pattern. If that's the case, then we should be looking at wave 5 next for AMP, which lines up with the EOY to Q1 2022 Altseason that's coming.
What I've been trying to figure out is where Waves 1, 2, and 3 should be plotted. I think the Coinbase listing effect in June disrupted the waves structure a bit because Wave 3 should've been in May when AMP hit an ATH of $0.0785. But where I've plotted Wave 3 now lines up with the ABC correction from June to October. I also tried plotting Wave 1 to the peak on Feb 12 and Wave 2 to the low on Mar 9, but that would break the rule where Wave 4 is not supposed to be lower than Wave 1.
Would like to hear your thoughts!
Major support & Fib Region I know this coin is extremely volatile, but I think within the next few week this can potentially gain some interest thus pushing towards the previous high in hopes of finding a new ground. I want to be optimistic about this coin, but the reality is that anything can happen and I'm willing to be patient for the reward if any.
History will repeat itselfAmp is about to take off. The price action that is happening now is exactly the same as the one occurred on 06/13/2021.
I am solely expressing my personal opinion and is NOT a financial advise.
This is my first opinion. I would really appreciate it if you post me your opinions.
AMP might continue to rise or might fallPotential rally to .10 after consolidation. price hit a resistance zone 1 and 2 and is riding under the resistance I believe we have a ascending triangle developed or a potential symmetrical triangle developing. if symmetrical it will be bearish if the ascending triangle idea holds we can rally to .10