narfi

AUDIOBTC about to move upwards?

Long
BINANCE:AUDIOBTC   AUDIO / Bitcoin
It looks like AUDIOBTC finally is about to move upward so that EMA50 attempts to cross MA100 on the daily.
This setup is similar to SUSHIBTC , however, I think it is much easier for AUDIO to cross. SUSHI gained ~400% in 2 weeks from that cross! I think AUDIO can do almost the same here. There is not much history on the chart, so a lot of room for an upward movement.
Volume also looks good. And finally and most remarkable: AUDIO has been in a downward channel and it broke out of that channel yesterday. It seems to stay outside, so this actually is a big plus in my opionion.

The only thing that is a little bit troubling: BTC dominance is slightly positive at the moment, but it may drop on the daily, which should boost AUDIOs attempt to move upward.

No Adivce! What do you think? I am here to learn.
Comment: Targets in my opinion:
T1: 1145
T2: 1570 (forgot to draw that on the chart)
T3: 2013
T4: 2304
T5: 6000 (but only if technicals keep looking good in my opinion)
Comment: I think AUDIO may jump now upwards toward 1145 satoshi. Why do I think that: Next to the daily close above the downward channel, I see an ascending triangle on the daily. AUDIO tried to break it already 9 times and failed 9 times. With each try, the resistance gets weaker. With todays candle AUDIO closes above this resistance. It should than become support. Further, the rising buying volume is also really good.

Additionally, I see a lot of similarities between AUDIOBTC (weekly) and TRUBTC (daily). Let's see if it plays out the same way for AUDIO on the weekly as for TRU on the daily. This would mean a couple of weeks with a lot of upward movement.
Comment: T1 and T2 hit, now it gets really interesting in my opinion.
Trade closed: target reached: Trade so far closed since T4 has been reached in such a short time. I did not expect it to pump that hard.

Technicals still look good to me, but this much on a single day calls for a retracement in my opinion. But let's see.

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