Going Short on APE Short

ApeCoin / USDFTX

Description

⋅ Aug 9, 2022 6:16 PM

FTX:APEUSD

APECOIN seems to have top-out with the RSI indicator extremely overbought, and now it is pointing down.

It seems to have made a Falling Wedge Pattern, which is a bearish pattern, and about to break to the downside.

I’m going short here, with stop above August 5 highs.

Not a recommendation.

Good Luck to You

Trade active

⋅ Aug 10, 2022 3:00 PM

Trade active

⋅ Aug 14, 2022 7:30 PM

Trade closed manually

⋅ Aug 17, 2022 4:47 AM

Closing with a nice profit of 61.91% on my 7X futures position.

Comments

tianle03

⋅ Aug 10, 2022 12:52 AM

Nope.. it will regain a power at 6.04 USD main target here. Then we go up to between 11.40 and 12.50 per coin..

JoeChampion

⋅ Aug 9, 2022 7:15 PM

I agree, it’s time for a bear market in cryptos!

tianle03

⋅ Aug 11, 2022 1:17 AM

But I think yesterday 6.65usd will be the last swing low price , if the ongoing price will continue to maintain or support from 6.65 or 6.50 USD per coin this is good indication that there's no overbought here.. still were in bullish phase, since June 15, were bottomed..