$APE/USDT 12h (#Bybit) Ascending trendline retest

ApeCoin is facing 100EMA resistance and seems likely to be rejected on it.

⚡️⚡️ #APE/USDT ⚡️⚡️
Exchanges: Binance Futures, ByBit USDT
Signal Type: Regular (Short)
Leverage: Isolated (1.0X)
Amount: 12.3%

Current Price:
5.200

Entry Zone:
5.243 - 5.695

Take-Profit Targets:
1) 4.406
2) 3.614
3) 2.818

Stop Targets:
1) 6.354

Published By: @TradingOn

Risk/Reward= 1:1.2 | 1:2.1 | 1:3
Expected Profit= +19.44% | +33.92% | +48.48%
Possible Loss= -16.18%

Fib. Retracement= 0.618 | 0.786 | 1.117
Margin Leverage= 1x
Estimated Gain-time= 1 month

Tags: #APEUSDT #BoredApe #BAYC #Metaverse #NFT #Gaming #Web3 #Creation #DAO #Governance #DeFi

Website: apecoin.com

Contract:
#ERC20 0x4d224452801aced8b2f0aebe155379bb5d594381

Trade active:

All entries filled and up to +8.58% (1x) profit

ApeCoin is following the plan pretty well after faking out bullish, Stop Loss was wide enough.
Local up-trend seems broken and 1st target is in play, let's be patient enough until then!

Trade closed: stop reached:

SL hit with -16.18% (1x) and -1R

ApeCoin bounced back after almost hitting TP1, up to +16.69% it would have been.
It seems to have broken out bullish after but still unclear if it was a stop hunt or a new up-trend start.

Trade active:

Seems like it was a stop hunt after all, 100EMA support is lost and would likely head towards targets.

Trade closed: target reached:

+48.48% and +3R

Final target finally reached, sub 3$ was definitely due!