AMP made a big move up to $0.06 while accumulating between $0.02-$0.03 for close to a month or more. With the pull back of bitcoin it made a well timed retrace to .618 levels before making a move again. Originally, I thought what I had drawn originally for wave 3 was a bit shallow and then realized that during its retrace AMP reentered the price territory of wave 1 & 2. By doing this it invalidates the possibility that this impulse was a part of a larger move underway. To me, this means 1 of 2 potential outcomes.
The first being that AMP is gearing up for a large move exceeding original estimates. A move well into $0.30+ could happen, maybe up into $0.50 range should one wish to speculate on the utility of this coin and having a denominator close to the dollar. The moves that we are seeing now could be consider as contractions for a greater move.
The second, being AMP is forecasting a larger pullback... I know, not as fun as the first. I do not think it would be a sign of weakness per say for AMP but more so that Bitcoin could bleed out after a bounce (should this be just a bounce). If BTC is not simply undergoing a bounce back after a dump and we see it climb towards ATM - that will strengthen the case for first possibility.
I am going to be taking some profit on my position given the ambiguity right now. Day by day my confidence grows in this project and believe it has a bright future ahead.
Not financial advice... Just thoughts on what I see. Please post your thoughts and comments below.
The first being that AMP is gearing up for a large move exceeding original estimates. A move well into $0.30+ could happen, maybe up into $0.50 range should one wish to speculate on the utility of this coin and having a denominator close to the dollar. The moves that we are seeing now could be consider as contractions for a greater move.
The second, being AMP is forecasting a larger pullback... I know, not as fun as the first. I do not think it would be a sign of weakness per say for AMP but more so that Bitcoin could bleed out after a bounce (should this be just a bounce). If BTC is not simply undergoing a bounce back after a dump and we see it climb towards ATM - that will strengthen the case for first possibility.
I am going to be taking some profit on my position given the ambiguity right now. Day by day my confidence grows in this project and believe it has a bright future ahead.
Not financial advice... Just thoughts on what I see. Please post your thoughts and comments below.
