• ACH/USD rose 50% in one trading day
• The falling wedge applies to the rising view
• False breakthrough risk still exists

The cryptocurrency market was affected by the FTX scandal, and investors fled another fraud in the industry. However, although there are many predictions and analysis that this field will not succeed, the recent price behavior is encouraging for speculators.

Take Alchemist Payment (ACH) as an example. Yesterday, it was the leading cryptocurrency, rising about 50% against the US dollar.

Alchemy Pay is the world's first solution pioneer to connect circulating currency and data encryption socio-economic payment website. In short, its purpose is to build a bridge between data encryption and the world of legal regulations.

With the circulation supply of 4.9 billion commodities, the main supply of cryptocurrency is expected to exceed 10 billion. According to the current market price, the valuation of Alchemy Pay is close to US $60 million, and the daily trading of coins exceeds 180 billion.

ACH/USD data chart by TradeView

The wedge of decline tends to rise more, but the anxiety of false report breakthrough still exists

Until recently, ACH/USD still bought and sold in a heavy tone - just like all cryptocurrency markets. However, the recent rebound of Bitcoin and other key cryptocurrencies has led to the acquisition of small coin companies.

As a result, the market price broke the wedge layout of decline. This mode indicates flipping; Most of the time, the market will adjust the distance between more than half.

However, this does not mean that the market cannot keep innovating.

Therefore, all double trades should have stop loss orders at the lowest value of the falling wedge, and the profit ratio should be about half of the market decline. In other words, 0.035 should be appropriate.

Everyone is worried that yesterday's rebound is another unreal breakthrough. A quick review of what has happened in the past can reveal similar breakthroughs, but with the market turning and creating the lowest, such breakthroughs are only unreal.

In general, if the recent bottom point continues, ACH/USD has a higher growth potential.