ASMUSD has settled into a rather large ascending triangle pattern on the daily, similar to Shib prior to breakout. Would expect a large movement from ASMUSD within the next few days to a week if it is able to capitalize on current structure. Take profit indicated by fib scale with a peak around 0. 40 . Stop loss would be a break of roughly 0.154. Red indicates current resistance levels. Blue indicates current channel. Green indicates current supports. This is not financial advice, trade wisely and use your own due diligence.
Comment:
Bottom channel has shifted a bit but ASMUSD is still on track and hasn't broken pattern. Funding has shifted a bit toward BTC but after BTC cools off funding may return and create a breakout.
Comment:
Bad news, stop losses have been hunted and new lower limit has been tested. Good news, accumulation has been lengthened and strong demand has been established. When this breaks out it may be significantly higher than previously assumed because of accumulation time.
Trade closed: stop reached:
While this was one of my favorite ideas, it looks like the pattern has been broken down completely by this BTC break down. I'm calling it here but on the off chance that it is able to make this day just a wick then it could potentially be still valid. However, opportunity cost considered, looks were done here.