Cryptocurrencies

APPC technical analysis

APPC seen from the temporality of 1W we can see how the structure of candles has remained following an excellent curvature, which represents a good sign of a close reversal of trend, the current series of candles has maintained a bullish movement from the double floor formed on 2 September 2019, the movement is being strongly supported by the RSI indicator, which shows bullish divergence, signaled within the indicator by a dark blue diagonal, the price could continue to rise from the current position to reach our first target profit located within the price range of 0 to reach our first target located within the price range of 0.00000758 – 0.00000929, indicated in the graph by the light blue rectangle, however, we could also have a backward movement close to the demand zone located at 0.00000333, indicated in the graph by the lower horizontal dark blue color before continuing towards our profit targets, in the graph I have traced through the drawing tool, the possible trajectory that the price should follow during its movement (the drawing only expresses the movement and not the time period).

APPC seen from the temporality of 1D we can observe more closely the current movement of candles, we see how the price has formed us 2 important HL after the double floor created in the zone of demand, this is a very good bullish signal, it is quite possible that this is the reason why we are currently seeing the formation of a symmetrical triangle that we can see in the chart delimited by the 2 dark blue diagonals, the price should continue to move within this continuation pattern before the bullish break, the black arrow within the chart indicates the target that should reach the next impulse.

In conclusion, APPC has an excellent candlestick structure that should result in a next bullish move towards the price range of 0.00000758 – 0.00000929, currently the formation of the triangle should give rise to an HL close to the support of the figure, before looking for the break, the safest position would be after confirming the break of the pattern, in the 1W chart I have also placed the next gain target located at 0.00002194 and the third profit target located at 0.00003791 which should be long term objectives if the price maintains the trend, for the moment I recommend to be very attentive to the development of the price within the lower figure to look for the best position in the long run, always remember to place stop loss in all your operations to avoid the possible invalidations during the movement.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

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