Short Entry after Exponential MoveGreetings, Snipers!
Aptos has increased over 400% in less than 1 month
The price is rising exponentially as it is now above the trendline of previous peaks
Major correction is inevitable sooner or later
A peak at $25 would correlate previous price actions to the Fib levels perfectly
If you are currently long, I would suggest taking partial profits.
In the shorter time frame:
Shorting now is too risky, as price is still consolidating despite a sharp increase.
We can patiently wait to see if the price would reach the $25 area, then short and close at $13.3 for a Risk-Reward ratio >4 (SL at $27.2).
Please be cautious as this is a high-risk trade with potential quick profits. You can wait for a breakout confirmation to the downside.
Happy Sniping!
APTUSDT
APT/USDT buy back 10 - 12$APT is the native currency of the Aptos blockchain. It has an initial total supply of 1 billion and at the time of writing, its circulating supply is 130 million APT. The distribution is as follows: Community (51.02%); Core Contributors (19.00%); Foundation (16.50%); Investors (13.48%).
APTUSDT on its way to next supportLets have some pullback here. The price has hit 4h resistance zone. I would not consider it that strong, but still for the time being it is going to be enough effective to push price down to the next support level 1h support. Let the price come there and we will see where we go from there.
APTUSDT probably heading for daily support at 12.36-12.66The price seems to be heading towards daily support at 12.36-12.66. It fell down from the 4h support level and it is highly likely that it will retest that level and close below that level
There shall probably be a bounce however as soon as the price reaches 14.28 level. But it is very likely that it will result in another leg down to daily support.
APT: Pullback in UptrendTrade setup : After sizeable gains (~400% YTD 2023), price was met with selling pressure around $20 resistance area. However, the selling is on low volumes, which is actually bullish. Momentum turned bearish (MACD crossover). Pullback near $15 support could be an attractive swing entry in Uptrend. Wait for Momentum to inflect bullish again (MACD Histogram rising).
Trend : Uptrend across all time horizons (Short- Medium- and Long-Term).
Momentum is Mixed as MACD Line is below MACD Signal Line (Bearish) but RSI > 55 (Bullish).
Support and Resistance : Nearest Support Zone is $15, then $10. The nearest Resistance Zone is $20.
Trade Setup for APT The idea is: Buy when the price breaks above 17.51$ and take profits at the levels shown in the chart.
Targets:
1. 17.7$
2. 18.2$
3. 18.6$
4. 19.1$
5. 20$
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What are triangles when it comes to trading?
Key points:
"1. In technical analysis , a triangle is a continuation pattern on a chart that forms a triangle-like shape.
2. Triangles are similar to wedges and pennants and can be either a continuation pattern if validated or a powerful reversal pattern, in the event of failure.
3. three potential triangle variations can develop as price action carves out a holding pattern, namely ascending, descending, and symmetrical triangles."
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APTUSDT - The Big Short (Once Again)The Price of APTOS has soared more than 100% in last 15 days.
It's very intuitive for traders to start looking for a correction after such a huge pump in such a short time.
But, its crypto and here trend is your friend.
But I am trying to use the established theories and maths to check out whether the strategy works or not.
Shorting APTOS (APTUSDT here)
lets see what happens.