AppCoin has found the bottom at 3784 satoshis while forming a bullish divergence on the RSI oscillator. The started to consolidate forming the resistance at 5800 satoshis. But recently APPC/BTC managed to close above the resistance as well as 50 Moving Average.
In combination with the bullish divergence these are the first signs of a potential correction up or a trend reversal. There are two targets to watch. First is at 11k satoshis, if broken price is likely to continue rising towards the second target at 17k satoshis. And only brake above the 17k should confirm the trend reversal and would potentially send price to the new all-time high.
On a downside, price could correct down, towards either the 50 Moving Average or the uptrend trendline. But, daily break and close below the 3780 satoshis low should invalidate bullish outlook.
In combination with the bullish divergence these are the first signs of a potential correction up or a trend reversal. There are two targets to watch. First is at 11k satoshis, if broken price is likely to continue rising towards the second target at 17k satoshis. And only brake above the 17k should confirm the trend reversal and would potentially send price to the new all-time high.
On a downside, price could correct down, towards either the 50 Moving Average or the uptrend trendline. But, daily break and close below the 3780 satoshis low should invalidate bullish outlook.