ASM looks to be forming a bottoming structure. I created this blue trendline as I think this will be the resistance that needs to break in order for the upside targets of $.08 and $.13 to be in play.
That said, I think in the near term there are two possible scenarios that I'm looking at, ASM: 1. Pumps straight to the $.052-.058 range 2. Retests the $.03 region, forms a lower high and then consolidates more in the low $.02 area before finally breaking out to $.05.
I've marked off key resistances to watch for price action to move to and key places where ASM should find support should it see more downside. I've also added key dates that should be pivots for price action.
Let's see how it plays out over the coming weeks/months.
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ASM is at risk of losing that bottom support so I'm out for now. I do think this will play out but it needs a few more weeks. I'm expecting another move lower first.
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Back in here at $.01774. Still looking for this same move to play out.
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Fully out of the market. Will reenter when BTC hits 15.8k.