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evasivesteering
Mar 9, 2023 11:48 PM

APT is at interesting levels Long

APT / TetherUSBinance

Description


APT is among the rare cryptos that have a green candle today.

Suported by news (*), APT's prices hold well the key level which is a confluence of
  • Lower trendline of a falling wedge
  • Fib 0.618
  • CMF bounces at support trendline


In my opinion, one can accmulate APT here down to $10.2 and sell at proposed targets. It would take some weeks.

This trade is quite risky in the current context which is not favorable for both stock and crypto markets. Stoploss would be tight: for example 1D cancle closing below $10 or below the lower trendline of the falling wedge.

(*) Launch of NFT Bridge on Wormhole expanding Interoperability across chains

Trade closed manually

APT is weak.

Trade active

Trade reactivated with SL below $11.2
Invalidation: today's close below 12.1 (Fib 0.5 and EMA 50D)
Risk under your management because the main move has done.

Comment

+17% for second entry.
(+35% for those who kept the initial entry)

Comment

Consolidation above Fib 0.5 and start to move up again.

Comment

APT still hold the Fib 0.5
I expect that It would go up again when BTC goes sideways the next days

Trade closed manually

BTC seems to form a double top pattern (on 4H TF). It would have a correction...
Comments
behdark
Thanks for your good analysis
evasivesteering
@behdark my pleasure
chauhansaahabji
as soon as you had closed trade, it blasted
evasivesteering
@chauhansaahabji, yes, what a pity. But i prefered closing it before monday's open.
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