AGI/BTC is currently consolidating on top of prior resistance at the .382 fib level (around 1240ish.) Also, it has the 50/100 day moving averages there as well acting as another layer of support. The S/R flip at 1240, the .382 fib level being at 1240, and the 50/100 day MA’s acting as support lead me to think AGI has a higher likelihood of going up then down. As always, this is a high risk trade given and how unstable is has been lately with its sporadic movements.
Moving average guide (All daily for this post):
50 day moving average in Green.
100 day moving average in Yellow.
200 day moving average in Red.
Entry: 1240-1275.
Target 1: 1405 (.236 fib level and a prior .)
Target 2: 1500 (Prior and where the candle body closed on the last big run.)
Target 3: 1675 (0 fib level and previous peak that was hit on a wick.)
SL: 1200-1225.
Published at Sat, 30 Mar 2019 08:29:12 +0000
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