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:
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:
Hit the LIKE button if you like my analysis and want to support my channel. Follow to make sure you don't miss any future trade ideas.
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:
Hit the LIKE button if you like my analysis and want to support my channel. Follow to make sure you don't miss any future trade ideas.
Trade active:
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.