Audius [AUDIO] Formation & potential outcome
Hi everyone,
After a HUGE rally that lasted untill the end of March, AUDIO is catching his breath and preparing for the next move.
Looking at the 4H timeframe, AUDIO corrected untill its 60% retracement and has developed a descending-wedge formation. We are currently waiting the conclusive price-action and volume that will validate a breakout above the boundary of this structure.
When looking at the larger picture, a potential ascending trinagle is forming (still to be confirmed). After breaking out this triangle formation other important key levels can be tested.
Fundamentals:
> Announcement of Audius Collectibles
> Rising artist parterships
> Solid team & hiring
In case we fall below the lower grey trendline that acts as support, above set-up will be invald
🌜 If you enjoy this idea, please like and leave a comment 🌜
This is not financial advice
After a HUGE rally that lasted untill the end of March, AUDIO is catching his breath and preparing for the next move.
Looking at the 4H timeframe, AUDIO corrected untill its 60% retracement and has developed a descending-wedge formation. We are currently waiting the conclusive price-action and volume that will validate a breakout above the boundary of this structure.
When looking at the larger picture, a potential ascending trinagle is forming (still to be confirmed). After breaking out this triangle formation other important key levels can be tested.
Fundamentals:
> Announcement of Audius Collectibles
> Rising artist parterships
> Solid team & hiring
In case we fall below the lower grey trendline that acts as support, above set-up will be invald
🌜 If you enjoy this idea, please like and leave a comment 🌜
This is not financial advice