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Weekly
Looking at our trend timeframe we see price continuing to respect our downtrend with support found 500 satoshis. Last week’s candle left us with an indecisive doji. Last time price was this low was back in November 2015 when AMP was first added to Bittrex where we ran from 500 to 24000. Not expecting the exact same run, however I am expecting a push towards 15000, will watch smaller timeframe for entry.
Daily
Shifting over to our pattern timeframe we see price is stuck in consolidation between 620 and 670. Today’s open was 647 with a low of 625, and a high of 711 satoshis. Stochastic RSI showing momentum is in favor of bulls, a daily close above 670 activates our trade. A rejection from 670 and expect a sell off towards 500.
Conclusion
- Buy: After Daily Close Above 670
- Sell: Por Que…
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
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