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API3 / TetherUS

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API3USDT trade ideas

API3: Trend Continuation Analysis with TargetsAPI3 appearing to find support on well correlated uptrend. Anticipating support at -2 standard deviations (SD) below regression trend mean to hold. Watching for either a mean reversion, break above, and retest for bullish confirmation or break below -2 SD for exit. Analysis: Price Currently price action is ranging between $4.75 resistance corresponding well the POC for volume profile (blue line), and $3.99 support level just above Fib 23.6% retracement pulled from ATH to local low. Pink dashed lines on chart are areas of significant support/resistance as determined through analysis of multiple fibonacci pulls or simple S/R identification. RSI RSI currently sitting at neutral level of 51 needs to stay above 38, ideally looking for a cross and close above 55 in the next day or two for confirmation for bullish continuation. ADX/DI Increasing bullish trend though weakening slightly MACD MACD still in bullish territory above zero line. Though it appears to be nose-diving with a trajectory towards a zero-line cross, price action appears to be diverging from this move downward and MACD is starting to curl up. The trade: Entry: $4.17 TP1: $6.00 TP2: $7:00 Stop (Mental w/ alerts): $3.779 RR: 4.7 An ascending triangle has been drawn using the -2 SD of linear regression trend and the POC of volume profile/resistance. Watching for bullish breakout of this triangle. If PA breaks down out of the triangle I will be watching for support at stop-loss area at $3.779. This stop will be a mental stop-loss with alerts as I will want to see a Daily candle close below this before exiting trade to avoid getting whipsawed. If price closes below stop, trade will be exited and will reevaluate entry watching for support from identified areas (dashed pink lines). -Spreck
Long
by spreck
1
API3/USD - Ascending wedge about to break!API3 is about to complete its movement inside this large wedge that we have painted since early February. We are likely to continue up before any meaningful resistance is met which currently stands at around $11.5. Will the wedge break up or will we crash down below support? Bitcoin would indicate we will have some more bearish days ahead (BTC idea below), but API3 has shown tremendous strength to date and today is one of the few coins in green. Thus, best to let price lead the way. For now price should continue up until our resistance. The indicators also support the bullish case, the only real question is if we break up of this wedge? Time will tell. Bias remains bullish so long support holds. If that break, we may end up in a long consolidation, depending on broad market conditions. Like and follow if you liked this idea! Also join my crypto community to stay in touch!
Long
by DU09
3