Ambrosus is a low market cap coin with excellent fundamentals . After bottoming out in April, during an accumulation phase, it mooned, increasing its value by over 3x.
It is now undergoing its correction, giving us another chance to reload on this potential juggernaut.
First of all, it is probably in the midst of its macro wave 3 (Elliot Wave). The run up from April was very likely the wave 1 of the macro Wave 3, meaning that there is an impending Wave 3 of Wave 3, aka the king of all elliot impulse waves that are typically by far the strongest out there.
The fib retracement shows that we are right at the doorstep of the golden pocket, which is the zone between the .618 and .65 on the fib retracement (0.00005280 - .00005488 BTC), which is where the teal arrow on the chart points to. The golden pocket also happens to fall right on the target, designated by the yellow vertical line on the chart, derived from the head and shoulders pattern formed at the recent top at around 0.000095 BTC. We can also appreciate bullish divergence on the 1 hr chart (teal lines on chart). Finally ,we are in a falling channel/wedge, which usually break to the upside. All of these point to an excellent opportunity, imo.
I have already entered the trade early at .00005511 BTC. However, as per the TA, entry points:
0.00005289 - 0.00005540 depending on how conservative you are with your entry points.
Stop loss - .00005240
One point to keep in mind that there is a chance that AMB will continue down the falling channel/wedge a little bit more and correct to the 0.786 fib level (.000044), which is why we have the stop loss. This is unlikely imo, but nothing is certain in markets.
fundamental factors - supply chain coin, strong team, recently announced masternode program, impending partnership announcements supposedly with huge food and drug companies
not financial advice
It is now undergoing its correction, giving us another chance to reload on this potential juggernaut.
First of all, it is probably in the midst of its macro wave 3 (Elliot Wave). The run up from April was very likely the wave 1 of the macro Wave 3, meaning that there is an impending Wave 3 of Wave 3, aka the king of all elliot impulse waves that are typically by far the strongest out there.
The fib retracement shows that we are right at the doorstep of the golden pocket, which is the zone between the .618 and .65 on the fib retracement (0.00005280 - .00005488 BTC), which is where the teal arrow on the chart points to. The golden pocket also happens to fall right on the target, designated by the yellow vertical line on the chart, derived from the head and shoulders pattern formed at the recent top at around 0.000095 BTC. We can also appreciate bullish divergence on the 1 hr chart (teal lines on chart). Finally ,we are in a falling channel/wedge, which usually break to the upside. All of these point to an excellent opportunity, imo.
I have already entered the trade early at .00005511 BTC. However, as per the TA, entry points:
0.00005289 - 0.00005540 depending on how conservative you are with your entry points.
Stop loss - .00005240
One point to keep in mind that there is a chance that AMB will continue down the falling channel/wedge a little bit more and correct to the 0.786 fib level (.000044), which is why we have the stop loss. This is unlikely imo, but nothing is certain in markets.
fundamental factors - supply chain coin, strong team, recently announced masternode program, impending partnership announcements supposedly with huge food and drug companies
not financial advice
Comment:
There did not seem to be the typical price reaction at the golden pocket - the price spiked for a little bit but was quickly suppressed. now we are floating around the golden pocket price zone. That, along with the fact that BTC seems pretty weak volume wise as well, suggests that AMB could possibly fall to the next fib level at .00004400 as the end of correction
Comment:
That said, I am stlil in my position (bought in at .000055
Comment:
bullish divergence still present