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AMBUSDT (AirDAO) Shows Promise with ABC Pattern

⚪AMBUSDT is revealing clear indications of an uptrend, marked by higher highs and higher lows. Notably, recent price action appears to mirror an ABC corrective pattern, drawing on the Elliott Wave theory. The reassuring bounce off the 161.8% Fibonacci support level that took place a few days ago is a positive sign.
⚪However, our attention should also gravitate towards the most recent high where price encountered resistance at the uptrend trendline. All things considered, the odds seem to favor the continuation of this uptrend, provided the price maintains its position above the key demand zone. For the bullish scenario to hold, it's crucial that daily closing prices stay above the latest Fibonacci support.
⚪Concerning resistance levels, our focus is on Fibonacci retracement markers, particularly the 38.2%, 61.8%, and 78.6%. Should the price experience a slight dip, it could present a compelling risk-reward proposition, potentially leading us to open a long position. In the event such an opportunity arises, we'll promptly share the AMBUSDT trade setup in our channel. Stay tuned! 🚀📈
⚪However, our attention should also gravitate towards the most recent high where price encountered resistance at the uptrend trendline. All things considered, the odds seem to favor the continuation of this uptrend, provided the price maintains its position above the key demand zone. For the bullish scenario to hold, it's crucial that daily closing prices stay above the latest Fibonacci support.
⚪Concerning resistance levels, our focus is on Fibonacci retracement markers, particularly the 38.2%, 61.8%, and 78.6%. Should the price experience a slight dip, it could present a compelling risk-reward proposition, potentially leading us to open a long position. In the event such an opportunity arises, we'll promptly share the AMBUSDT trade setup in our channel. Stay tuned! 🚀📈
Ghi chú
We have just shared AMB trade setup in the our channelĐã hủy lệnh
We are canceling this trade setup because expecting yet another wave down.At a later stage we might re-enter.
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.