$APE/USDT 4h (#BinanceFutures) Ascending channel on midline

ApeCoin is printing new ATHs and pushing higher but RSI reminds us it is likely to reverse sooner than later.

Current Price= 22.330
Sell Entry= 22.306 - 23.498
Take Profit= 19.794 | 17.454 | 15.372
Stop Loss= 25.502

Risk/Reward= 1:1.2 | 1:2.1 | 1:2.9
Expected Profit= +27.14% | +47.58% | +65.76%
Possible Loss= -22.70%

Fib. Retracement= 0.236 | 0.382 | 0.559
Margin Leverage= 2x
Estimated Gain-time= 2 weeks

Tags: #APE #APEUSDT #NFT #Metaverse #Gaming #Creation #Web3 #DAO #Governance #DeFi

Website: apecoin.com

Trade active:

SL moved up to 26.010

Trade closed: stop reached:

SL hit with - 27.14% (2x) and -1.2R

ApeCoin went for upper-line channel where we should have waited for it... 😔

Comment:

Back to highest entry

ApeCoin retraced -26.21% from top, it was definitely the place to short but we were not patient enough.
You can see how RSI suddenly reversed as well, leaving overbought territory, we'll keep a close eye on it!

Trade closed: target reached:

TP1 would have been reached with up to +39.52% (2x)

ApeCoin broke the channel down and is finally retracing to 50MA, don't forget to TP on the way if you held short.

Trade closed: target reached:

TP3 would have been reached with +65.76% (2x)

ApeCoin pulled back to supply zone then dropped stronger, congrats if you held short!