API3USDT → The market is getting bullish leverage

24 oct. 2023

API3USDT is forming a breakout of the descending wedge resistance on the background of bitcoin growth and crypto market capitalization. The reason for active strengthening may be the fundamental basis related to ETFs

The wedge has been forming for a year, the honey trend was stopped at the bottom, around 0.800-0.820. Strong consolidation, which was formed in the period from June to October 2023 leads to the fact that the price is forming an attempt to break through resistance against the background of active growth of the market flagship - BTCUSD . Yesterday, a US court affirmed the Grayscale decision and said that the SEC should reconsider the application for the spot BTC-ETF. The SEC has less and less chance and time to scuttle the case or ban the ETF, everything is leaning towards a positive outcome, which is what supports the price and interest in the market. If the API3 price can strengthen above the previously broken resistance line, we should expect a "to the moon" move in the medium term. First target 1.475, then 2.330

Support levels: 1.140, 1.000, previously broken trendline
Resistance levels: 1.475

I expect further growth, if the activity and interest in the market continues to gain momentum. Targets are indicated on the chart.

Regards R. Linda!

25 oct. 2023

Note

Resistance breakout. The price consolidates above the previously broken line. I expect growth continuation after consolidation above 1.140 or above the range

4 nov. 2023

Trade fermée: cible de profit atteinte

The first target has been reached
I am waiting for a pullback followed by a break of resistance and further strengthening of the price