APT's recent gains were affected by a sharp retracement ahead of July's CPI data. BTC bears and bulls are currently fighting for the $29.5k range-low, which could embolden APT sellers if more losses occur. Despite a surge in demand and buying pressure, APT's price action faced rejection at the resistance area. A bearish order block and previous range-high make the $7.97 - $9.5 zone crucial for potential price rejection. Two possible short set-ups are presented, with take-profits at mid-range and range-low.
recorded a sharp retracement ahead of July’s CPI data, denting APT’s recent gains. At the time of writing, BTC bears and bulls tussled for the $29.5k range-low, and any more losses could embolden APT sellers.APT’s Relative Strength Index climbed above the 50 mark, reinforcing a surge in demand and buying pressure on 9 August.
However, price action forayed into the resistance area after Wednesday’s pump. APT has been range-bound since July 18, oscillating between $6.67 – $7.97. The pump faced rejection at the range-high .
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