UnknownUnicorn7529057

So this one is a very interesting one! Injective Protocol as you might have already heard it..Anyways let's not try to argue Fundamentally. We will argue based on Technicals Since the start of 2023 (in Jan) the Opening Price was at roughly 1.3$ & right now it is Trading at almost 9$. That is quite a Fantastic Move definitely if you have been it in since start of the year you definitely deserve the every single move that it has printed & maybe it might more.Anyways I actually have a very big issue with Coins/Tokens like this who have gone up tremendously up & people get addicted to the move until it starts to go in the opposite direction. If you are in Crypto Space you might have heard about Stacks? It also had a very similar thing going like Injective just going up & up everyday & you see now it has been just correcting from the 1.3$ level highs. I have also done some Fib Calculations & came to know that STX got rejected at the 0.618 level (if we calculate from the Dec lows) The crazy part that stuck out too me is that Injective is just near or below its 0.618 level. So maybe this is a Critical Resistance level & that Bearish Outlook is not dead yet. "Follow the Trend, but do not fall in love with the Trend" this is a Brilliant Quote by Jay Kaeppel idk if you have ever heard this.Now yes I absolutely recognise the fact that each individual alt has it's own Count so it is a very arbitrary thing to apply one perspective in all other different Coins/Token. However I think it can be in a very Deadly Corrective Pattern if my Bearish Outlook turns out to be correct. Counter-Trend Rallies are very very tricky & they do fool a lot of people. So just be very careful & cautious here.As far as my Bearish Targets go probably a Retest of 4$, 3$ on the much more bearish outlook is possible. As of writing this 9.97$ Highs of April is still not broken. As long as it stays below this level ultimately my Bearish Outlook could turn out to be correct since below this level there is still no uptrend as of now. It would be a very childish thing to call this a New Trend since we need CONFIRMATION!Now? Can I say one more thing. Can i be wrong about my Analysis? Absolutely. I can do as much as Analysis all day long if I want to but fact of the matter is Market doesn't cares about me or infact nobody. So it could still easily break that 9.97$ level & just easily ignore my Bearish view & maybe even give me a tight slap on my Analysis since there are zero uncertainties here. Trading requires a recognition of fact that you can be wrong & still make Stupid Mistakes. Anyways enough talk, let's just wait & watch patiently as to how the Price Action Traces out in the coming months. It would be a very very interesting thing certainly.

' *Price Uber Allies* ' as Germans would say! Which means Price over Everything. We should not look at Fundamental Narratives & place our Trading/Investing Decisions as they more often than always put us on the wrong side of the Market. Price Action always leads ahead of any Fundamental News.Anyways that's a topic for another day discussion. TradingView has a very good feature so that anyone could publish Stock Ideas about a Particular Market. When I see latest ideas of Aptos right now all I see is just Bullish Setups (which I totally respect that & it could happen that this is the Final low at 5.4$ before we see it hitting all time Highs again. Don't get me wrong here these could be very smart, intelligent, sophisticated & talented people. They could be completely right about it but I just happen to very humbly disagree with them.My main reason for disagreement is that when looked at the Long Term especially on Weekly's it still is in a Down-Trend. We just see it making a Lower Low every now & then. It becomes very important that you become Patient & not FOMO in because being Patience is key as so many good Traders say that you might already know that.My Bearish Targets for Aptos is at 4$ because it is a Psychological level & this could be the real bottom.When I'm wrong? My Bearish Outlook would certainly be confirmed if we see a sustained break below 5.4$ level also there is not a lot of backing of support so 4$ seems to me a very logical place it would fall. So as long as this KEY LEVEL at 5.4$ is being protected Bulls are certainly in control. There is a Brilliant Quote 'Bull Markets climb a wall of wary, while Bear Markets slide down a Slope of Hope' so maybe I might be wrong too here & all those Bullish Analysts are correct. Let's see it would certainly be quite interesting to see how things will look ahead especially we will get our another Monthly Candle close so more potential clues?What do you think about my Bearish Outlook? Do you think I'm completely wrong here & overthinking a lot let me know if you can more than happy to hear what is going on in your head too. Thank you for reading all of this..😇Seems like we will test 6$ soon. It was clearly a Corrective Pattern. Let's see but at the moment 5.5$ hasn't yet taken out but, so it is important that a break of 5.5$ level should happen before we pass any judgment so that Price could potentially fall in the territory of 4$. Let's see it is confusing & tricky as always with Financial Markets we can never have any kind of certainty whatsoever lol :)'The Plan is unfolding as it was expected'There was some Microsoft News related to Aptos idk some Partnership going on between both of them on 9th of Aug. The Price rocketed 15% in a single minute so the news indeed had a positive reaction on the price but whenever price becomes too much overextended in a short period of time usually it retraces back to the averages. So many naive people infact started to post lots of Bullish Potential Scenarios but I was cautious and did had my suspicion on the sudden price hike. You see since that news the Price has fallen a lot and overall Nothing has changed it still remains in a very strong overall downtrend. And the Rally on 9th of Aug was just a Strong, Counter-Trend Rally. And it was indeed a False Breakout Scenario not a Impulsive Pattern. And that's the thing honestly Good Traders/Investors should be Realist never ever believe in Fundamentals. Always believe in Price Action if you could because if you were to use Fundamentals on 9th of Aug you be like Oh! Yeah the Future looks good but you see now how this Fundamental News/Event would get you on the wrong side of the Market so never ever believe that. Still a lot of people will disagree with me here and say that I am wrong. This Age Old Myth needs to die! I hope but you are smart enough to acknowledge the difference between right & wrong. By the way let's see how long 5.5$ level still acts as a Support. As always I could be wrong on my 4$ call too because there is no certainty here in Financial Markets. At the end all we are dealing with is Probabilities & Possibilities.Woke up this morning 5.5$ level of June has been successfully broken which leaves the room to retrace it even lower. Not trying to show off or anything please don't take my updates in a bad way. I also make sometimes very stupid calls too as I'm not perfect and maybe I'm still not maybe because of BTC dropping it has also triggered massive selling off in many many Alts. But yeah let's see.

See as Technical Analyst I can totally relate & understand that everybody wants their Analysis to turns out to be correct? right but NOBODY acknowledges that when they are wrong. And that's the reason we think objectively by having a 'KEY LEVEL, LINE IN THE SAND, ALAWAYS PREPARE OURSELVES FOR THE WORST CASE SCENARIO AS PAUL TUDOR JONES SAYS...'So yeah, indeed it is very important that we hear all kinds of Information, Information which sometimes even causes us PAIN.Now let's do some Brief Analysis on Aptos.It had a Nice Rally in last week of Jan & it it topped there. 7.73$ is a very Crucial Support Area from 12th of May, but you have seen what Bitcoin is doing so maybe because of BTCs Price Action it just won't establish any kind of Support Area at the 8 Dollar Mark Figure atleast this is what I Originally Thought of... Key Levels to watch over the coming Course of Months :-$7.73, if we broke this then next support comes at $7.0ish range from 18th of Jan if we broke even this then well then be prepared to see this at $5.4 because there is no support honestly thenAs of writing this these two critical support areas have NOT BEEN BREACHED so maybe it could still start a uptrend from 8$ Territory. But you know what as Bitcoin traces lower the Probabilities will decrease & increase a move towards downside Price Action. Let's see what it does next & please you could never have Certainty in Financial Markets it's just the nature here so stop seeking certainty. Be Humble, Learn to Respect Markets, Practice a Solid Risk Management otherwise you are doomed to fail here those who continue to acknowledge their mistakes will keep getting better. This Post is not to scare you or create any kind of fear among you its just to prepare yourself for the crisis situation . As the Pilot of your Trading/Investing Decision Maker you ALWAYS have to think for the bad things. Because it's only when we train our Mind for the unexpected we become Good Traders/Investors. I understand you may not agree with my viewpoint here because There is a difference of opinions among people out there as always with anything. But I think this is quite important most don't like to touch on this Subject.

A Break of 9 Dollar is certainly a Bullish move for Aptos & even if it is a Counter-Trend Rally it should Rally upto Thirteen Dollars before we see it getting rejected again. Let's see... I would say it would depend also what Bitcoin does because that has an influence on Whole General Market. Will see how it reacts at 13-14$ Territory. Will it just Keep Making Higher Highs and all that Nonsense Stuff? Or will we see a Lower Low. Either way it would be quite fun to watch out in these coming months

So last time I made a call that we might have bottomed near 17600 Region. Unfortunately that level was broken but it didn't swinged a lot. The Only Intermediate Low we got was at $15,500ish level. Anyways you already know what has happened since then? Even someone who was crazy enough to buy BTC back in June is still sitting at a Nice "Handsome Return".However Today we will talk about those people who still haven't entered YET!Yes you heard it right. A lot of People I know still treating this as a Corrective Pattern and think we might face rejection at 33k level.So in the last Bull Market, Bitcoin was very kind enough that we tested that 4-5K Region Twice before starting a Huge Rally towards $70kMain Question Remains will we ever test $15,500? Or that Dec lows of 2022?See as a Good Trader/Investors we need to believe that "Anything can happen at the end of the day"The Moment we think we are Smart, boom Mrs.Market Slaps us very tightly on our Cheeks so we always need to be humble and kind towards our Analysis.This rally right now at 33k level might seem very fantastic and those who bought you absolutely deserve it however my advice to you would be at the same time "Prepare for Worst Case Scenario" that Maybe we might Test $15,500 in the future.And those who still haven't yet entered, the only wise decision in my humble opinion would be to wait and see if we test 20k again? However in the meantime you could lose a potential upside rally however that is equally fine we don't want to attach FOMO towards Price. If you miss the opportunity then let it be, there is always another great opportunity waiting for you. I'm really interested to hear from those people who still haven't entered yet? What are you doing right now? Happy to hear your thoughts 🙂

A lot of you might think that this Recent Breakthrough the Trend Line might be a Bullish Scenario for Aptos. That is absolutely correct! Most TextBooks would say that a Clear Breakthrough of Trend Line is a very Bullish Setup. However at the same time Markets love to do False Breakouts I think this is what exactly will happen. I still think Pressure remains to the downsideKey Reistance Areas : As long as we stay below $14.6 I think we have a risk of testing 10$ again and who knows if we lose Ten Dollars then no one will stop this thing to come at $8. If that $14.6 gets broken I will be absolutely wrong about it and change my opinion about its outlook. Also the Recent Upside from $10.6ish level doesn't looks Impulsive at all it looks like a Corrective Pattern. Anyways let's see we have our Line in The Sand level at $14.6 so let the battle begin🙂

BTC seems to making Big Bottom here. I could be wrong if $17600 level breaks. Let's see