Amp / BitcoinLong
Buy-and-hold pick of the month: AMP! Moving averages look great.
look at this coin.
It's working to stay above the 200moving average - partly by staying above it, party by dragging it down with it.
Once we open and close a candle above it, we will see a good rise in this coin, with a big upside if you're willing to wait a few months.
Now, the reasy i like it today, is because of this hourly chart:
Those moving averages are very bunched up and we see the bullish cross being tested by the chart, and it's still tightening those averages up. If it will move, it will do so in a big way - but it may take a few more days until the daily averages are also a big more tightly packed.
Let's throw some fibs on, which I hadn't yet.
And a big trendline while i'm at it.
Now, i would like to invite you to zoom out quite a bit till you can see the start of the trendline, at the all-time high.
Can you see it?
Good. Now you can see how important it will be for AMP to cross above this 0.236 fib, and why when it does we have such a great upside to look forward too.
Would this count as a bullflag with the entire trading-range of the coin as the pole? That would mean a new all-time high for this coin.
Well, even if we don't make it quite that far there's plenty of upside to enjoy here if we get above 7404..
Ahem, let me repeat that:
**If we get above 7404** - and yes, i do mean a daily close.
Good luckk and have fun all, and stay tuned!
It's working to stay above the 200moving average - partly by staying above it, party by dragging it down with it.
Once we open and close a candle above it, we will see a good rise in this coin, with a big upside if you're willing to wait a few months.
Now, the reasy i like it today, is because of this hourly chart:
Those moving averages are very bunched up and we see the bullish cross being tested by the chart, and it's still tightening those averages up. If it will move, it will do so in a big way - but it may take a few more days until the daily averages are also a big more tightly packed.
Let's throw some fibs on, which I hadn't yet.
And a big trendline while i'm at it.
Now, i would like to invite you to zoom out quite a bit till you can see the start of the trendline, at the all-time high.
Can you see it?
Good. Now you can see how important it will be for AMP to cross above this 0.236 fib, and why when it does we have such a great upside to look forward too.
Would this count as a bullflag with the entire trading-range of the coin as the pole? That would mean a new all-time high for this coin.
Well, even if we don't make it quite that far there's plenty of upside to enjoy here if we get above 7404..
Ahem, let me repeat that:
**If we get above 7404** - and yes, i do mean a daily close.
Good luckk and have fun all, and stay tuned!
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