AUDIOUSDT trade ideas
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 EW countAt the very least a truncated 5th, which should bring price back to ATH.
Backed by two institutional funds; 1) Panter captail, 2) Coinbase venture fund
Showing bullish divergences in the lower time frames
AUDIO breakoutThe 4-hour candle of audio price broke out and closed above the trend line. There should be a retest now before continuing upside. You can choose to buy now or wait for the breakout and retest off the strong 2.2 dollar support.
AUDIO: WHAT IF?Audio has successfully printed a falling wedge pattern. Right now it is a battle between the bulls and the bears. You can take the risk to Long audio now but I will advise you to wait for the breakout. If it breaks out downwards then we'll pick audio at the 1.1 dollar resistance. If it breaks out upwards then we will buy the retest.
$AUDIO: Up or Down - What's next?$Audio is facing an uncertain week, especially on April 23rd. They are scheduled to increase their token supply by 100% to about 300M. This may lead to huge volatility. I am expecting two scenarios.
First scenario, the price could drop by 50%. Most expect this, based on the formular p = mc/cs. Second scenario is for the price to rise, considerably. This would be due to a number of traders who have been waiting to see what will happen on the 23rd.
Generally, a lot of people support the Audius project, but have been worried about the impact of the increased token supply. If Audio can pass this huddle safely, then moon landing is possible. (NOT A FINANCIAL ADVICE)
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
🚀Buying opportunity in AudioUSDT🚀Entry: $2.50 to $2.70
Target #1: $3.15
Target #2: $3.40
Target #3: $3.70
Target #4: $4.35
❗️Conduct your own due diligence.
❗️I am not a licensed qualified investment advisor. I am an amateur investor. All the ideas, & opinions are for informational, and educational purposes only.
❗️While the information provided is believed to be accurate, it may include errors or inaccuracies.
AUDIOUSDT sounds pretty good.Audio already had enough correction and I consider that soon a bullish should start looking for an entry in some support.
Correction Finish!
Exchange AUDIOUSDT 1d Binance
Price: 2.56| 2.50| 2.61
Vol: 4,504,194|9,690,650|16,251,953
ATR: 0.4327
✅OBV: 440.5 M| 436.0 M| 445.7 M
⚪️RSI: 53.31| 52.08| 54.70
⚪️MFI: 43.32| 38.32| 37.02
⚪️CCI: -32.78| -42.83| -25.35
❌WR%: -62.16| -67.66| -56.91
✅ADX: 46.76| 47.89| 49.12
❌MOM: Bearish Momentum
❌SMA: Price Below SMA Bearish
✅ADI: +DI >DI BULLISH
❌MACD: Bearish
✅PSAR: Bullish
Support And Resistance
S: $2.264
S: $2.352
S: $2.466
R: $2.627
R: $2.756
R: $3.049
R: $3.185
R: $3.326
R: $3.675
R: $4.030
Volatility is moderately high
EXPERIMENTAL 🧪
🐂RSI: Bullish divergence
⚪️MFI:No divergence
⚪️FVE: No divergence
🐂Volume: Bullish Volume Trend
AUDIO parabolic curve BASE 2 is done?This would mean that base 3 is in the making and it should follow the curve 'perfectly'.
🔥 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!
Are we $AUDIO ready?I'm still super bullish on Audio. This is just the calm before the storm. I'm expecting Audio to be worth over $3 by the end of today. What do you think?
#NotFinancialAdvice
