ðĨAPE: is the NEW ATH soon?
āļāļĩāđāļāļąāļāđāļāļ:
ðŦApe Coin is gaining popularity, as is the entire NFT industry. More implementations, more development and research. Today I will show you the scenarios that seem most relevant to me.
Let's mark two value zones on the chart:
ðķ$13.7-14.4 - support for the price, from where the upward movement began.
ðķ$17.6-18.35. This value zone should become support for the price. Of course, it is possible to expect a local correction to the $15-16 zone as well, but in the current situation, traders may not let the price go lower.
ðThe price broke through the local downward wedge and rose 35% out of 59%. Technically, this pattern worked well and on the test of the $13.7-14.4 value zone and the trend line, it was possible to open long positions. Also, the volumes showed us the break of the trend and the presence of a buyerðģ
The next opportunity for a long trade might be a breakup of the ascending wedge or the return of the price to the second value zone at $17.6-18.35. As I wait for manipulation in the market, it is better to wait for a local correction and a test of the value zone than just make the trades.
ðŊTargets:
1. $23 as the target for wedge pattern
2. $28 - key level, ATH
ðĨThe ascending wedge is a bearish pattern, but in the current conditions, when the price consolidated in the range of $10-15 for a month and a half, I suppose that the whales have accumulated positions and will want to realize their profit. The trigger for growth could be the local manipulation I was talking about. The growth of volumes will show us the big player'sðģ intentions.
Friends, press the "like"ð button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
Let's mark two value zones on the chart:
ðķ$13.7-14.4 - support for the price, from where the upward movement began.
ðķ$17.6-18.35. This value zone should become support for the price. Of course, it is possible to expect a local correction to the $15-16 zone as well, but in the current situation, traders may not let the price go lower.
ðThe price broke through the local downward wedge and rose 35% out of 59%. Technically, this pattern worked well and on the test of the $13.7-14.4 value zone and the trend line, it was possible to open long positions. Also, the volumes showed us the break of the trend and the presence of a buyerðģ
The next opportunity for a long trade might be a breakup of the ascending wedge or the return of the price to the second value zone at $17.6-18.35. As I wait for manipulation in the market, it is better to wait for a local correction and a test of the value zone than just make the trades.
ðŊTargets:
1. $23 as the target for wedge pattern
2. $28 - key level, ATH
ðĨThe ascending wedge is a bearish pattern, but in the current conditions, when the price consolidated in the range of $10-15 for a month and a half, I suppose that the whales have accumulated positions and will want to realize their profit. The trigger for growth could be the local manipulation I was talking about. The growth of volumes will show us the big player'sðģ intentions.
Friends, press the "like"ð button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
āļāļąāļāļāļķāļ
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