APE - W pattern?

APE appears to be one of the best assets in crypto from a risk-reward perspective and has been in a macro accumulation phase for a considerable period.

The $1 support, which has become resistance, is very relevant for the upcoming period.

If APE manages to turn the $1 resistance back into support, we have confirmation that the price below $1 in the recent period was a fake-out.

On the other hand, at the macro level, APE seems to be forming a W pattern. Taking the macro support and resistance (accumulation) as the price objective and placing it above the $2.5 resistance indicates that we can reach $6.4.

Therefore, if we have confirmation that $1 is becoming support again and the recent movement below it was a fake-out, we have a potential 5x reward.

An invalidation of the fake-out would be if the price falls below $0.84 with a full body and consolidates below.