🧵A thread: $AMC swimming through the waves🧵
I honestly laughed when I first looked at my chart but each wave tells a story and predicts when we break down and when we break up. Started with these data points:
ATH1: (20.36 on 1/25)
ATH1 low: (1.91 on 1/25)
ATH2: (72.62 on 6/1)
Why start with these dates you might ask? Well they are the weeks when we had the most volume (3.3 billion for ATH1 and 2.21 billion for ATH2) and everything correlates with volume.
Starting from the June run which gave us data point ATH2 we draw our first waves. The Red and Green waves act as both a support and resistance. When they are broken they break in the opposite direction and give us new data points. When green wave breaks it give us SC2 data point.
Now that we have a new data point we draw a new wave from the ATH2 to the SC2 which creates a new support wave (purple wave). Similarly once the wave is broke it gives us a new data point (AR2) and then breaks down.
With our new data point AR2 we can find a new resistance wave drawn from AR2 to the ATH1 (1.91) which acts a resistance wave. There is also the AR1 x AR2 wave which also follows similar path. The waves are flattening out soon which will make it easier to swim through and break up
Additionally AR2 data point gives us a short resistance wave (orange and white) which breaks up and then acts as major support wave but is restricted to break further due to the resistance wave which requires major volume.
Putting it together we have our major support waves (orange and white) about to intersect with our major resistance waves (cyan and red) where the wave is flattening out and we will be able to swim through the wave with enough buying volume.
I honestly laughed when I first looked at my chart but each wave tells a story and predicts when we break down and when we break up. Started with these data points:
ATH1: (20.36 on 1/25)
ATH1 low: (1.91 on 1/25)
ATH2: (72.62 on 6/1)
Why start with these dates you might ask? Well they are the weeks when we had the most volume (3.3 billion for ATH1 and 2.21 billion for ATH2) and everything correlates with volume.
Starting from the June run which gave us data point ATH2 we draw our first waves. The Red and Green waves act as both a support and resistance. When they are broken they break in the opposite direction and give us new data points. When green wave breaks it give us SC2 data point.
Now that we have a new data point we draw a new wave from the ATH2 to the SC2 which creates a new support wave (purple wave). Similarly once the wave is broke it gives us a new data point (AR2) and then breaks down.
With our new data point AR2 we can find a new resistance wave drawn from AR2 to the ATH1 (1.91) which acts a resistance wave. There is also the AR1 x AR2 wave which also follows similar path. The waves are flattening out soon which will make it easier to swim through and break up
Additionally AR2 data point gives us a short resistance wave (orange and white) which breaks up and then acts as major support wave but is restricted to break further due to the resistance wave which requires major volume.
Putting it together we have our major support waves (orange and white) about to intersect with our major resistance waves (cyan and red) where the wave is flattening out and we will be able to swim through the wave with enough buying volume.