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joemccann
Apr 18, 2018 3:42 PM

Classic W Pattern on BTC-AMP Long

Amp / BitcoinPoloniex

Description

Some thoughts on #BTCAMP.

As mentioned many times previously, AMP is a super high probability setup. What we have here is a classic "W" shaped chart pattern with a very strong double bottom (the two flat lines).

In many cases a double bottom is a good enough indicator to get long the asset, but in this case it is even stronger with the W formation and has a high probability of retracing back up to the middle of the W.

There is no guarantee this plays out but I'm long a ton, and have been, because I've seen these setups many, many times in the past and with the overall atlcoins market ticking back up, I like the risk/reward here.
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