APE'S FATE AT A CRUCIAL POINT $10 or $0.30

Updated

I have no lower timeframe thoughts for APEUSDT presently but the higher timeframe mid to long term.

Three major factor to consider is firstly, the 'Descending Triangle / Wedge' ((purple dashed line) for classical analyst. Price has retested there several times and couldn't break it on the weekly chart hence becomes a strong support and probably one of the reasons we're seeing price bouncing from there currently. If price breaks down from there then it's game over for APE in the mid-term as we will see price heading to $0.3.

Second important factor to consider is the fact that presently price is heading towards the previous support that was broken and will now become resistance (grey line) at around $1.5 if it rejects there. Thats a strong area if price can cross there up then I'll be confident that APEUSDT is back being bullish.

Meanwhile for Elliott Wave Theory this is the first scenario. If I get 100 reactions to this post, I will share the remaining scenario.

Overall, what do you think? Lemme know in the comment section and don't forget to like, follow and turn on notification. 🔔

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We're very close to the resistant level at $1.5 note that it might not precisely reach 1.5 also keep in mind that it could poke a wick or couple past it before rejecting, if truly that support will become resistance.

Most importantly we want price especially on the daily timeframe to close above the potential resistance trendline to become bullish.

Note

BMV:APE now at that critical resistance level, don't be strict with the $1.5 price as $1.47 might be the stop point and that is approximately $1.5.

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Trade closed: target reached

BMV:APE now at $1.5 the very critical level. Breakout or breakdown we're about to find out. Don't forget to read previous post for context.

I'll also update as I see new development in price. Stay tuned.

Note

Since I've called for this bullrun till present, we have seen over 40% increase in price and it looks like this is just the beginning. Watch out for the next update coming shortly.

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UPDATE

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looks like we will be heading to $4 next. over 81% since this post, saw this coming for

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Next target incoming for is $3.55

DewyCandles

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