ApeCoin The price action was generally sideways throughout Saturday and is stuck between $13.80 and $12.40. The bulls tried to escape on Friday, but that escape was denied and resulted in a push back. Bears trying to exploit this weakness have also failed, creating overall uncertainty.
ApeCoin price had two intraday setups, one long and one short, on the Dot and Figure chart with a 3-box return of $0.20 on Friday. The long entry triggered two boxes and went up but then went down and hit the backstop on a head-to-head hit. The short entry was overridden because the long entry was triggered first. Now, a new long opportunity has started to present itself for ApeCoin bulls.
The hypothetical long entry for ApeCoin price is a $13.20 stop buy order, a $12.60 stop loss order and a profit target of $15.20. The transaction represents a 3.33:1 reward for risk. The setup relies on input from the Point and Shape model known as the Bear Fraud.
The trade will be void if the current O-column drops to $12.20 before the long entry is triggered. ApeCoin price A two-to-three-box trailing stop will protect any profits made after entry.
From an Ichimoku perspective, whipsaws and indecision make perfect sense. ApeCoin price is inside the 4-hour Ichimoku Cloud. The cloud represents indecision, volatility, congestion, frauds and countless other negative trading behaviors.
In a nutshell, the Ichimoku Cloud is where trading accounts die until there is a clear break at $14 on the cloud or $12.60 below the cloud. It seems quite likely that the painful trading conditions will continue.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.