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.
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.
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