Bitcoin and other crypto dropped on Wednesday morning after the ticker for BlackRock’s (BLK) spot bitcoin ETF – IBTC – was removed from the Depository Trust & Clearing Corporation’s (DTCC) website, only to be included later. However, the profit booking an impulsive buying in crypto is nothing new.
Aptos (APT), trading above its 50-day exponential moving average, is in an ascending trend. The asset has broken above the previous key resistance of $5.5 and is currently experiencing a rally, due to wider positive sentiment in the market. After successfully breaching the upper limit of the flat bottom pattern APT was able to sustain support and has entered the accumulation phase.
Image: Chart-Aptos
It faces immediate resistance at $6.65 with next resistance at $7.61. Its 14-day RSI remains overbought, and is currently around 75. These values suggest that the bullish break may continue in the near term. On the down side, $5.27 is the key support level.
Major Levels:
Support: $5.27, $4.68
Resistance: $6.65, $7.61
(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)
