Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.Bitcoin [BTC] saw nasty volatility the previous day and oscillated $1k within an hour from $18.6k to $19.7k.
At the time of writing, the price of Bitcoin stood at $18.7k but the sentiment was quite fearful in the markets.ApeCoin [APE] had a bullish bias, however, despite liquidating $3.6 million worth of positions within the past 24 hours.
It has not yet ceded the support zone at $5.6 to the bears. Can the buyers continue to hold on, and even force some gains in the next day or two?Source: APE/USDT on TradingViewThe hourly chart showed the $5.63 level to be a crucial support level.
On the four-hour chart, these lows formed over the past two days are the higher lows of the bullish structure. Hence, for the bullish bias to remain, the price must stay above the $5.48-$5.63 area.Read more on ambcrypto.com