AMB/BTC - The right place to buy

30 Des 2019

Ambrosus has been slowly bleeding down after the massive 250% it did in early October. After three months, it's now in an area where I'm interested in taking a position. If we break down from here, this coin may tank into oblivion. Good risk/reward.

My reasoning:

• Location: Trading between the 0.786 and 0.886 fibs
  
• Structure: Inverse head and shoulders forming (incomplete on 1D). Double bottom off the 0.886 fib level.
  
• Divergence: Confirmed bullish div in histogram
  
• Volume: Bears exhausted, bulls slowly stepping in. 1D obv trading above 13EMA.
  
• VPVR: Gap above ~30% from current price.
  

Safe traders can look to enter upon a breakout/pullback of the inverse H/S. Aggressive traders can look to get in at current prices.

4hr:

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4 Jan 2020

Trade aktif

We've broken up with some strong buying, really like the look of the OBV! Let's see how far the bulls can take this.