APE/USDT 1D. Idea. Huge pump soon. Explanation of the chart.Hi everyone. Been out for a while, there's a reason for that. Market consolidating, no need to update much.
Now we're on the verge of the beginning of the somewhat altseason. So now is the time to update.
Let's make a small remark, Others.d chart(capitalization of top 150 altrcoins) has pumped 20% today, huge sign for altseason.
Now let's dive into this coin APE. There's a big Pump group in this token hence a movement is expected.
There's 3 types of trend as for the DOW theory.
Main trend, Secondary trend, local One.
Let's analyze this chart with this trend theory.
The main trend(here's not the all history of the coin) - Downtrend, shown as red on the chart.
Secondary trend - downtrend channel.
Local trend - falling wedge, where the resistance confluences with the main downtrend.
Right now we're staying near under the support of the downtrend channel - here's also the support of the broken down local falling wedge. It's called a confluence of 2 zones - better seen on chart, where 2 levels become as one point.
We've broken down the downtrend channel(it's called a deviation). Consolidated there for 66 days. It's a good sign for the future pump, because paperhands are thrown out of market(no understanding of market cycles -> leaving the market).
As soon as we break this confluence zone up and got back into the channel - a potential to the resistance of the channel is opened.
It's about 133% which is shown also on the chart. After we got into the channel - only main downtrend line which is also the resistance on the wedge will hold us. When we break this one - free road to the resistance of the channel is opened. This is about 4.8$ zone.
Now notice that we've reached the 1.6$ zone, which is often the bottom zone for the crypto assets. The easiest example is Bitcoin at 16666$ zone and then the reversal, but u can find tons of such example if u look into it(one that comes right now to my mind is UMA - pump from 1.6$ zone, another one is T coin(T/USDT) - accumulation in 1.6$ zone in the beginning of 2023 then pump 400% something like that). I write a lot about it in my ru Channel, but now i share it here also.
This is not the typical stuff u will hear from traders, and u may think it's foolish when u first look at it, but it works and u may check this out for ur self. Maybe later i will share why it works. But the main thing it works.
Also notice that 16x3 is 48 whish is the target for this coin. 48 has it's numerological meaning. This how the magic of numbers works. Don't think about it, just feel it and use it for better understanding.
Capitalization of the coin is 777m$ as for the august 14th. x2.5 pump is about 2b$ which is not that much, so can be realized.
On the daily chart we also have the bullish divergence(triple(3)) on the RSI, this may be used as the addition to the all aforementioned.
Consider the price moves with the market, so don't expect it to pump alone tomorrow for 130%. It takes some time.
