Ampleforth (AMPL) vs USD - Bullish divergence

20 sie 2020

Following an overbought condition (green column) and the subsequent 85% drop from $4 Ampleforth is now showing signs of reversal. The facts of the above 1-day chart:

1) The RSI resistance trend line that has been acting as resistance since July 1st until August 9th is now broken.

2) Stochastic RSI has now made higher lows that consequently diverge with lower lows in price action - this is regular bullish divergence.

3) The divergence occurs as volume enters the market - golden.

4) Price action has been trading inside a falling wedge until 2-3 days ago, and has now broken out. It does not indicate price action has found the bottom, but it does tell us price action is no longer restricted by the resistance trend line.

5) Lastly I like to see an asset is diverging against others, not just the one I'm studying. The 1-day Bitcoin chart below shows us the divergence also exists following an overbought period. This is a great indication.

21 sie 2020

Komentarz

That was a quick confirmation of the divergence, spiking over 50% during the night. If you feel like you've missed out, don't worry:

1) Price action has retraced or rather is in progress of retracing to support (around $0.70)

2) The oscillators suggest a uptrend in price action until the end of the month is likely.

24 sie 2020

Komentarz

Forgot to add... Please read up on Ampleforth and understand how it works before buying a position. You're purchasing a percentage of the network, not tokens. The token supply is always changing dependent on demand / lack thereof. The tokens you purchase are equivalent to a % of the network and will not remain fixed, even if you keep them on the exchange - trippy huh?

The only way one is going to make a gain out of this is through adoption, i.e. network growth. If we're expecting market volatility, this is a cool project to take a position in, arguably even better than the dollar.

29 sie 2020

Komentarz

Up 60% so far - but are we still holding the same amount of tokens? For me - no! But am I still owning the same amount of network - yes!

Confused!!

29 sie 2020

Komentarz

100% in only 9-days, kaboom!

Now price action is above $1, and someone correct me if I'm wrong, I expect the next rebase to increase supply and take price action toward $1. Therefore, current price action notwithstanding, we should find ourselves with more tokens in wallet tomorrow.

30 sie 2020

Komentarz

Might be a cheeky scalping opportunity down to $0.85

1 wrz 2020

Komentarz

300% in 10-days!! Congratulations to all!

Stochastic RSI is still climbing on the daily - top not yet in. Don't FOMO in though, there'll be other opportunities.

2 wrz 2020

Komentarz

The buy-zone is between $1.17 and current prices. September 5-6th will be the next best opportunity to study.

Look at the 3-day chart below - there's no sell signal here. Even now it is all buy buy buy. Long term investors should ignore recent price action.

Swing traders, wait until the 3-day candle below closes on September 5th, confirming support from previous resistance - strong signal of continued uptrend if support.

Day traders - you're on your own, not something I do! A sure way to lose money quicker than Vegas ;)

3 wrz 2020

Komentarz

Following last nights pullback we're now looking for support around 80 cents.

Can anyone confirm if they gained more tokens during this pullback?

25 gru 2020

Zlecenie aktywne

Back to support where this idea began with MFI resistance broken and Stochastic RSI crossing up as price action is on support- good to go long from here.

As much as I'd like to hold this one the fact your holding amount changes with market capital makes it very hard to predict if you'll end up better off or not! Perhaps that's the whole idea!