AMP - Crank it Hello, it's Mitochondria Mike and I'm back with one more trade for today
The focus of these initial trades is to give you a head-start out of this jolly old correction on the coins that we think will outperform during the coming market phase
So lets look at some fundamentals -
The most obvious recent interest in AMP is the imminent coin burn of 33% of non-circulating AMP, this is a brilliant catalyst for some price action. This is due to happen by the end of March although a confirmation of the exact date seems to be unconfirmed.
As a quick overview, AMP is the token associated with the Wildspark platform allowing the monetisation of original content, the platform is maturing and better establishing itself and it's likely that 2018 will see a big focus on this area of the market.
I recommend researching further into this token as it is an interesting project and has a very active development team
So lets take a look at the technical, as ever I like to take a light look here as we want to establish the following -
- Is the TA conducive to a large bull run
- Could this coincide with the fundamentals as a catalyst
- Are we at the optimal buy in
We can look at other aspects such as waves, it's worth noting that this coin did not see the same kind of insane gain in price over December as many others, this is good news. But we are looking at catalysts here, this is what is important.
Daily View
The daily view is looking positive indeed, the RSI is in bullish territory and curving upward, the MACD is closing in on a cross over and the momentum is showing plenty of room up, indeed there is the argument that right now is not a bad time to buy as it would only take the right announcement to send us on a healthy path upwards.
3 Day View
This is also past the neutral and showing positive signs, we have seen a very rapid reversal from the bearish crossover caused by Bitcoin rolling over and we are now heading into bullish territory, if we stay on course. However things for the moment look quite neutral with the MACD showing potential for a bullish crossover but seemingly no immediate intention to.
It is the signs of hesitation above which are showing across the market that makes us want to look for a better entry to this trade, Bitcoin is due another dip and we are not going to see this trade play out to it's full potential until Bitcoin is finished doing it's thing, one could almost suspect Synereo are aware of this which could explain their silence on the coin burn... perhaps we're moving into tinfoil hat territory now.
The recommended buy in for this trade is between 0.00003040 - 0.00003320
Sell targets will be updated as the trade progress, however an initial sell opportunity can be seen in the 0.00005400 region
Thanks for taking the time to read, give us a thumbs up if you found this helpful
MLC
Not financial advice , obviously use your noodle and do some research, and if you leave £10,000 in unmarked bills under a park bench of my choosing then I will send you back £20,000 absolutely free.
