The price movement of apecoin (APE) (1) serves as a hard lesson in technical analysis for bulls
What happened?
Investors frequently stress the value of having a strategy, a favorable risk-reward ratio, and knowledge of the levels and potential outcomes before ever considering initiating a trade. Those who follow the latest price updates will undoubtedly, be aware of this by this point. The price movement in ApeCoin today is a glaring example of ignorant bulls who believed that merely going long from a pivot level would lead to a prolonged rally, without even mentioning the existing dynamics and geopolitical influences in the present markets.
Bulls are learning the hard way in APE pricing
The price of apecoin is moving downward this week, as it has for most of 2022. If there were just one trade to make this year, it would be to short everything and reap the rewards at year's end. It is even more disappointing to observe how bulls attempt to launch a powerful rally but are always having their rallies halted at the first technical resistance level they encounter.
The end of the year is drawing near, and with it, the Fed may be nearing the conclusion of its cycle of rate increases. As a result, the markets will strongly surge whenever the Fed announces that it has stopped or will slow down rate hikes due to anticipation of a declining US currency. Expect a significant increase in cryptocurrency prices in such a situation, with APE price action first breaking above $5 and through the 55-day Simple Moving Average (2) and $5.79, then focusing on the upside.
