The AMB/USD chart cancels out a lot of noise from the
AMB/BTC chart.
Downtrend broken and turned into an uptrend that needs
to hold these next couple of weeks to stay valid.
An inverse head and shoulders looks as though it is forming:
It has a clear neckline (blue horizontal) and assuming the
uptrend/diagonal support holds here that would be the first
target.
The second target is calculated by the price disparity
between the low of the head (in this case the lowest point
priced in on the chart) and the neckline, then adding that
difference to the neckline.
The Kumo cloud has been green these last couple months
which is the first time in AMB's 1W history.
The Tenkan and Kijun have crossed bullish, however they
are still not above the Kumo cloud so they aren't as strongly
bullish as they can be just yet.
The Lagging Span is still below the Kumo Cloud which is
bearish.
The massive volume is notable.
By the looks of things, the chart may contain just enough bullish
biases for the swing trader to have suitable conviction to make a
play here depending on risk tolerance.
For the long term hodler, entry point as an investment could play
out quite profitably for one who is looking to take a risky bet on
one of the lowest Market Cap coins on Binance.
This assumes that the product proves legitimate, the negotiations
with IBM/Maersk and others stay true and the team keeps working hard.
AMB/BTC chart.
Downtrend broken and turned into an uptrend that needs
to hold these next couple of weeks to stay valid.
An inverse head and shoulders looks as though it is forming:
It has a clear neckline (blue horizontal) and assuming the
uptrend/diagonal support holds here that would be the first
target.
The second target is calculated by the price disparity
between the low of the head (in this case the lowest point
priced in on the chart) and the neckline, then adding that
difference to the neckline.
The Kumo cloud has been green these last couple months
which is the first time in AMB's 1W history.
The Tenkan and Kijun have crossed bullish, however they
are still not above the Kumo cloud so they aren't as strongly
bullish as they can be just yet.
The Lagging Span is still below the Kumo Cloud which is
bearish.
The massive volume is notable.
By the looks of things, the chart may contain just enough bullish
biases for the swing trader to have suitable conviction to make a
play here depending on risk tolerance.
For the long term hodler, entry point as an investment could play
out quite profitably for one who is looking to take a risky bet on
one of the lowest Market Cap coins on Binance.
This assumes that the product proves legitimate, the negotiations
with IBM/Maersk and others stay true and the team keeps working hard.