A couple of weeks ago I made an analysis on APE where I discussed the rising wedge pattern. In said analysis I sketched two outcomes, either we'd break out of the wedge, retest the $7.5 resistance as support and continue the bull trend, or we would fall through the wedge towards $5.5
As seen on the chart, the break out was indeed bearish. Unlike most other cryptos, APE has been falling for over 10 days now. This in intriguing because APE was also one of the first to rise. Does this mean that the rest of the crypto market will follow and dump in the coming days?
Short targets are placed at recent areas of support in blue.
As seen on the chart, the break out was indeed bearish. Unlike most other cryptos, APE has been falling for over 10 days now. This in intriguing because APE was also one of the first to rise. Does this mean that the rest of the crypto market will follow and dump in the coming days?
Short targets are placed at recent areas of support in blue.
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