We are looking at Ambrosus on the weekly time frame and notice that it just hit a new all-time low recently.
So all gains from late 2017 cryptocurrency market bull run have been completely removed.
The pertinent question here to ask is the following, how much lower can Ambrosus (AMBBTC) go?
The RSI hit 30, which is my weekly oversold limit, and the MACD is showing strong bullish divergence. These are the signals telling us that this bear run for AMBBTC is coming to an end.
How much lower can it go? We can't know for sure, but we do know by looking at shorter time frames that early reversal signals are starting to become pronounced.
So instead of asking how much lower can it go, we track the chart to see if a bottom forms. If the new all-time low holds, then we are ready to trade this coin.