APE appears to be one of the best assets in crypto from a risk-reward perspective and has been in a macro accumulation phase for a considerable period.
The $1 support, which has become resistance, is very relevant for the upcoming period.
If APE manages to turn the $1 resistance back into support, we have confirmation that the price below $1 in the recent period was a fake-out.
On the other hand, at the macro level, APE seems to be forming a W pattern. Taking the macro support and resistance (accumulation) as the price objective and placing it above the $2.5 resistance indicates that we can reach $6.4.
Therefore, if we have confirmation that $1 is becoming support again and the recent movement below it was a fake-out, we have a potential 5x reward.
An invalidation of the fake-out would be if the price falls below $0.84 with a full body and consolidates below.
The $1 support, which has become resistance, is very relevant for the upcoming period.
If APE manages to turn the $1 resistance back into support, we have confirmation that the price below $1 in the recent period was a fake-out.
On the other hand, at the macro level, APE seems to be forming a W pattern. Taking the macro support and resistance (accumulation) as the price objective and placing it above the $2.5 resistance indicates that we can reach $6.4.
Therefore, if we have confirmation that $1 is becoming support again and the recent movement below it was a fake-out, we have a potential 5x reward.
An invalidation of the fake-out would be if the price falls below $0.84 with a full body and consolidates below.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.