We missed the 10$ mark short opportunity and it would had been GREAT but the price never touched to trigger our alert.. damn it Apes!
Price in s=now on support at 7.26 but 8$ is resistance.
We are LONG on this one today but remember:
if the price loses the support then you probably want to RUN FOR THE HILLS below 7,1$
APE has been consolidating in a triangle pattern for almost 2 weeks now and looks ready for a move soon. Everything will depend on BTC's movement, so I would wait to see which direction it breaks.
There is local support around $7, but if BTC dumps hard, then it's heading back to $5 (or lower).
One of my favorite and most helpful tools when doing TA is identifying patterns on the RSI. Many understand that patterns like wedges and channels are extremely helpful in increasing the probability of a trade but many don't know that you can do the same with the RSI.
I have a few examples of this on my page but here's another one before the fact.
The RSI broke...
Very nice wave structure on this coin. We have a clear extended 5-wave down, oversold conditions, and rsi hidden bullish divergence. I am waiting for the small pullback in purple to enter, no leverage. My stop will be below the local low, which I think will fall somewhere around 7.20-7.50 so we are looking at a solid r/r here as well.
👨🏽🏫 What do APES eat?
🦞🥂 I have no idea but it's not Lobster and Champagne on Yachts, or clubs, or Yacht clubs.⛵
👉 Was Time for all to have a Reality Check.. we had been 'Coco-nuts' 🥥🥜
🙈 Technical Analysis:
⚠️We had stated before that 17.75 would be the Key Level.
That rejection there (the Banana 🍌) did the slippery job. (It will be a Huge resistance...
As you see in my chart, Ape is at the bottom of my channel. This is an area I’m actively accumulating. MACD and rsi suggest Ape is in oversold territory. A break below this area would likely push ape to the $12.50 range, then a test of the $10 range. If it manages to build momentum the next high could be in the $40 range.
I heard an analyst mention how APE has yet to complete its 5th wave cycle.
I dont know how to chart waves just yet, but this is my first attempt at using fib extension tool.
One thing that does make sense to me naturally is the golden ratio, so hopefuly im using this tool correctly!
All things considered I believe APE has one last good run in before a major...
Ape retraced down to the near the 618 level (mid 13s) and now has broken out! The 618 extension of the previous move is 21.5 and the 1.618 extension is 28 where i will be targeting for profit taking... let me know your thoughts below!