APE has been roughly selling off since the start of the year. This trade anticipates that the selling is over and that the bottom is in for the time being. The idea is that the massive bullish divergence on the price vs RSI will cause a huge uptick in bullish pressure, further reassured by a bullish long-term BTC and stock market.
When we place the stop below the current daily low of 2.99 and a target of 6.40 (the year to date high), we can create a trade with an insane risk-reward of almost 26. This can potentially be one of the best trades of the summer.
Based on your preference you can take partial profits around 3.50 and 4.60
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