AMP buy the dip in progress


Market & Ticker: AMP – AMP/USDT 

Date: 09/08/2023 

Horizon / Timing:  Tactical Mid-term / 1 to 3 months 


AMP is progressing in a recovery pattern after having challenged the moving averages and providing a bullish signal on the RSI indicator. On the current level test of 0,003480 is likely as long as 0,0020 remains a tactical support valid in daily close. Watch the dip in progress and watch the entery of the trade between 0,02390 and 0,0022 to anticipate an upside swing in the coming days / weeks. 


Technical Key Elements: 

- Recovery pattern on going with 0,003480 as potential with auto-similar move at 0,005370 
- RSI indicator confirmed a new bullish momentum 
- The Moving average are support 
- Fibonacci key support is adjusted at 0,0020 while the Elliot wave shows upside potential towards 0,003480 and 0,005370 

Trade Idea conclusion:  Buy - Conviction: 


Target 2: 0,005370 

Target 1: 0,003480 

Buy: add in dip area 0,002390/0,002220 

Stop: 0,0020 (Daily close) 



Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) logo


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