AMP is no doubt a trending coin but is seeing a downtrend and will continue and hit it's initial resistance. What do you think about AMPUSD
M formation Neutral formation in a bearish trend Seems to be forming an inverse H&S similar to one previously seen High risk high reward I believe this will play out bearishly however. Continuation of the bigger M formation (in orange) Quite hard to decipher the nature of this chart,
AMP is approaching our first resistance at 135.59 (horizontal pullback resistance, 61.8% fibonacci retracement, 100% fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 120.34 (38.2% fibonacci retracement). Stochastic (21,5,3) is also approaching resistance.
AMP is approaching our first resistance at 133.04 (horizontal overlap resistance, 161.8% fiboancci extension, 38.2%, 61.8% fibonacci retracement) where a strong drop might occur below this level to our major support at 118.39 (38.2% fibonacci retracement, horizontal swing low support). Stochastic (21,5,3) is also approaching resistance and seeing a bearish...