API3 is on a solid run right now like alot of alts, but what differentiates it is how clean the chart is. It had a breakout from an accumulation pennant and hit 4.80 target perfectly, followed by some consolidation in an ascending triangle, a break out of that triangle and a retest of the breakout level. There is solid divergence suggesting another potential rip on the horizon within the next week or two - I'd wager a swipe at $8.75.
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Didn't really get a reaction from the hidden bullish divergence on the oscillators, however the channel trendline has been respected with a solid bounce.
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Starting to pick up a bit after consolidating along the lower channel trendline. I moved a bit more in at 4.50. There might be some hidden bearish divergences forming on the lower TFs, but the there isn't much in the way of volume nodes to push through for the next leg up.
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Ended up hitting 7.91 before the market wide pullback. The price signature now bears a resemblance of a Wyckoff distribution as shown, with the trading range of the distribution pattern bound by the two volume nodes at 4.70 / 5.90. The volume profile is from OKex which is notorious for wash trading so it was hard to really nail down the volume profile along Wyckoff lines. Right now consolidating in a pennant with apex within next day or so.
Oscillators look ok. Ideally I'd like to see a spring to invalidate distribution pattern, although a leg down is possible here.
@CryptoJADD Nice, I put some more in at 4.50 yesterday. Bulk of my holding is for long term but with small flips here and there. The way things look right now 7.50 - 8.50ish is on the cards for the next impulse move. I'd be on the lookout for the channel breaking though cause then I'd take some off the table - e.g. a dip below around 4.12 previous swing low with volume to back it up, with stop loss moving up with the channel.
CryptoJADD
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Very smart. You’re laughing now!! I’ll be looking for your targets. Many thanks keep us updated!
krr1337
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@CryptoJADD well we had to wait a while but we finally hit 8.75 haha. Looks like it had a longer accumulation phase than just shooting straight for it.