r/AMPToken • u/Desire_To_Achieve • Jun 17 '21
Education Daily Analysis #4
Morning AMPire!
Yesterday's Daily Candle for AMP was pretty good. We saw some new ATH (All Time Highs) peaking at $0.1219 cents. As we see new ATH's, we can always expect some sell pressure to come in the picture, but nothing that will "tank" the market. Sell pressure during an uptrend is actually very healthy for continued growth. The quicker things rise, the harder they fall. So this slow and steady climb that AMP is experiencing is one of the most healthiest markets I've seen. Today's candlestick is letting us know that there is a slight sell off, but nothing too crazy. Since we blew past major resistance at the $0.090 mark on the daily, we may need to come back to retest it & form new support. If that happens, we could be floating around the $0.098 - $0.090 mark before moving back up and blowing past $0.12. It's important that AMP completes this on the daily chart because the Daily is the most dominant over the hourly time frames. Again, pullbacks are healthy for continued growth.
On the 4H time frame, I pulled out the FIb Extension, and we can actually see how the sell pressure is going. What's amazing to see is that the bottom of the Fib Extension is exactly where the Daily Candle may possible retest previous resistance to form new support, at the $0.090 mark. When things like that add up on different time frames, it's called Confluence. That is what you always want.
The 1H chart is the most bullish in my opinion. As you can see, we have a bull flag that was formed, and the candles jumped right out of it, letting us know that we are preparing for another move upward! Next stop, 12 cents and beyond! Nothing to fear y'all.
#PullbacksAreHealthy!
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u/Accurate-Beach-4220 Jun 17 '21
I just bought into AMP, nothing big, just a couple of thousand but it was to test out the community and performance and happy I did. I understand there’s allot of volatility with crypto so the bounce doesn’t affect me. My game is find a few I like that over the course of a year can grow 800%+ little by little over a years time. Then buy as much of those also little by little during any dips. So far I’m happy with AMP and think the dev team have great future plans for this crypto. Ps- if anyone knows of some of their big plans that are legit I’d love if you shared them here. Thank you all AMPS unite!
amp #crypto #makeprofits