Ambrosus ascending

2018年7月8日

AMB has formed an ascending triangle on the 4 hour timeframe. Generally, this is a bullish continuation pattern and due to multiple other indications on other time frames, it can be seen that AMB is attempting to move into an uptrend (at least across the smaller timeframes under 1D)

The stochastic RSI and the MACD both have a bull cross and they are indicating good momentum.

This is further confirmed by the kijun and tenkan resting as support.

The top of the triangle has previously been tested and the break has been rejected. Another failed break of the topside could mean the price rebounds back to the .618 fibonacci levels ~

However, a topside break here could set the price up for a fib extension to the 1.0 fib line at 5472~