APTUSDT - The Big longThe New Kid on Blockchain has made an attempt to skyrocket and before it could moon... it decided to take a breather...
this breather makes this moon even farther now... therefore better rewards for the investors.
the RSI is showing bullish divergence on 4H timeframe.
A very good RR setup is available due to this BTC pullback. Lets see what happens.
This Idea is extension of my previous APTUSDT short idea
if you like the idea please share and like it.
Happy gains. May the peace find you.
APTUSDT trade ideas
APTOS Outlook APTOS is one of the best performing large caps of this year with a 280% increase YTD. This is how I feel we could see price move over the coming weeks/months.
The price structure is clearly a descending wedge with quite a steep decline.
The bullish scenario is that price breaks out --> pushes above green line --> retests as support and moves higher towards targets 1 & 2, we've seen APT produce some incredible rallies so far, so this is not out of the question by any means. Obviously BTC price action has a part to play in altcoins rallying however, I do feel like if BTC starts pushing APT is one of those coins that gets a pump.
The bearish scenario consist of price remaining in this structure of the descending wedge, cascading down towards the many FVG its previous rallies have left unfilled. First of which is APT's previous ATH, it's right in the middle of a large FVG that's fast approaching. My guess is there are some big players willing to protect their positions at this level, however there are clear bullish Order blocks equally distanced below that I wouldn't rule out revisiting and would offer even greater potential. We would see RSI in the oversold area at that level and then I would look to enter long term positions.
Long APT APT has just retested the .618 Fibonacci level and looks like it's found a local bottom. With this bullish signal, I'm expecting it to retest the ATH from here. The RSI is also showing some serious strength. So, it's looking like a great time to go long on APT.
This chart based off of The Elliot Wave Theory, Fibonacci, EMA’s, MacD , RSI , Momentum, and resistance/support zones combined with patterns.
APT/USDT Technical Analysis UpdateIt appears that #APTUSDT has formed a Bullish Pennant market structure at its recent high points.
If it can break through the diagonal resistance of this structure, there is potential for a strong upward trend to resume.
However, if APT fails to maintain a higher low, which is a sign of a local technical uptrend, it could signal that the trend has ended. In this case, the next significant level of support can be found in the red region below.
As the triangular structure continues to form, there is likely to be price compression towards the apex.
This suggests that #APT/USDT is preparing for its next significant move in either direction.