Ambrosus Completes Its Retrace? | Chart Analysis

23 nov 2019

Ambrosus (AMBBTC) is retracing after a strong bullish wave, we are trying to figure out if the retrace is over and bullish action will resume... Let's take a look!

AMBBTC Chart Signals & Indicators

• AMB Grew by 265%+ from the early Sept. low to Oct's peak price.
  
• A classic retrace started and is now ongoing.
  
• The .786 Fib. retracement support is sitting at 0.00000227, this level hasn't been activated yet.
  
• AMBBTC is trading below EMA10, EMA50 and EMA100.
  
• Low volume.
  
• MACD is bearish.
  
• RSI neutral.
  

Here you can see lots of bearish signals with little to know bullish strength... Based on these, AMBBTC can move lower before resuming its uptrend.

Conditions for change
If EMA10/100 is broken to the upside, the above signals become invalid and a new analysis is needed.

Thanks a lot for reading.

Namaste.

Previous analysis: