Overview
I recently cancelled one of my other ApeCoin projections where I believed a Three Hills & a Mountain pattern was forming. The second hill became a head and now a bearish Head & Shoulders is in progress. However, I am still bullish on the token because if the H&S is valid and the price is rejected back to $1.00 then this could become a setup for a medium-to-long term double bottom formation.
Head & Shoulders
The H&S can be seen on both the hourly and daily charts. The right shoulder is currently in development with a descending wedge that may squeeze the value back up to a resistance around $1.55. Should the ceiling be strong enough to extinguish any momentum that
APEUSD may garner then a correction back to $1.00 is probable.
However, if support is significant enough at this $1.00 level then this will become the second leg for the double bottom pattern.
Double Bottom Projection
There will be plenty of noise in-between that will facilitate short-term trades but I believe a price target near $6 is practical. This is near the same price target of a macro-Cup & Handle projection that I published a few weeks ago.
I recently cancelled one of my other ApeCoin projections where I believed a Three Hills & a Mountain pattern was forming. The second hill became a head and now a bearish Head & Shoulders is in progress. However, I am still bullish on the token because if the H&S is valid and the price is rejected back to $1.00 then this could become a setup for a medium-to-long term double bottom formation.
Head & Shoulders
The H&S can be seen on both the hourly and daily charts. The right shoulder is currently in development with a descending wedge that may squeeze the value back up to a resistance around $1.55. Should the ceiling be strong enough to extinguish any momentum that
APEUSD may garner then a correction back to $1.00 is probable.However, if support is significant enough at this $1.00 level then this will become the second leg for the double bottom pattern.
Double Bottom Projection
There will be plenty of noise in-between that will facilitate short-term trades but I believe a price target near $6 is practical. This is near the same price target of a macro-Cup & Handle projection that I published a few weeks ago.
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Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.