AirDAO (AMB) - Bullish divergenceOn the above 2-day chart price action has corrected over 80% since the beginning of the year. A number of reasons now exist to consider a long position, including:
1) Price action and RSI resistance breakouts.
2) Price action backtests past resistance as support.
3) Price action tests the ‘bottoming candle’.
4) Regular bullish divergence.
Was asked about this one, seems bullish enough but has very small market cap.
Is it possible price action falls further? Sure.
Is it probable? No
Type: Trade
Risk: <=2-3%
Timeframe: Act now
Return: Don’t know