We have the classic retrace after the initial bullish breakout when a low/bottom is hit.
AirDAO hit a low 17-August followed by a bullish breakout.
After this initial bullish breakout, a classic retrace takes place before additional growth is possible.
Here we can see AMBUSDT moving below 0.618 Fib. retracement but not reaching 0.786, the retrace ends in between.
This would end as a higher low compared to mid-August which is followed by a new high, the resumption of the initial breakout; a continuation of a newly developing bullish wave.
This analysis is always true and valid as long as AMBUSDT trades above the 17-August low at 0.00444.
As long as this level holds, we can expect long-term growth.
You can find two potential targets mapped on the chart.
I hope you find this information useful.
Thank you for your support.
Namaste.
AirDAO hit a low 17-August followed by a bullish breakout.
After this initial bullish breakout, a classic retrace takes place before additional growth is possible.
Here we can see AMBUSDT moving below 0.618 Fib. retracement but not reaching 0.786, the retrace ends in between.
This would end as a higher low compared to mid-August which is followed by a new high, the resumption of the initial breakout; a continuation of a newly developing bullish wave.
This analysis is always true and valid as long as AMBUSDT trades above the 17-August low at 0.00444.
As long as this level holds, we can expect long-term growth.
You can find two potential targets mapped on the chart.
I hope you find this information useful.
Thank you for your support.
Namaste.
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🚨 The difference between poor weak signals & PREMIUM trade-numbers lies in results. Stand apart from the crowd. #1 Since 2017. Join now 👉 t.me/lamatrades/4
🎯 LIFETIME Results: t.me/anandatrades/1183
(Click now & get FREE Pizza! 🍕)
🎯 LIFETIME Results: t.me/anandatrades/1183
(Click now & get FREE Pizza! 🍕)
Related publications
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.