API3 - one of the most beautiful charts right now

٢٧ يناير ٢٠٢١

API3 is on a solid run right now like alot of alts, but what differentiates it is how clean the chart is.
It had a breakout from an accumulation pennant and hit 4.80 target perfectly, followed by some consolidation in an ascending triangle, a break out of that triangle and a retest of the breakout level.
There is solid divergence suggesting another potential rip on the horizon within the next week or two - I'd wager a swipe at $8.75.

١ فبراير ٢٠٢١

ملاحظة

Didn't really get a reaction from the hidden bullish divergence on the oscillators, however the channel trendline has been respected with a solid bounce.

٣ فبراير ٢٠٢١

ملاحظة

Starting to pick up a bit after consolidating along the lower channel trendline. I moved a bit more in at 4.50. There might be some hidden bearish divergences forming on the lower TFs, but the there isn't much in the way of volume nodes to push through for the next leg up.

٢٥ فبراير ٢٠٢١

ملاحظة

Ended up hitting 7.91 before the market wide pullback. The price signature now bears a resemblance of a Wyckoff distribution as shown, with the trading range of the distribution pattern bound by the two volume nodes at 4.70 / 5.90. The volume profile is from OKex which is notorious for wash trading so it was hard to really nail down the volume profile along Wyckoff lines. Right now consolidating in a pennant with apex within next day or so.

Oscillators look ok. Ideally I'd like to see a spring to invalidate distribution pattern, although a leg down is possible here.