Traders Assess Bitcoin and APE Coin Trends

Bitcoin $0.00003 is attempting to reclaim the $67,000 mark while altcoin sell-offs have paused. However, a trader who accurately predicted recent downturns suggests this recovery may not persist. Another trader has shared an updated chart for APE Coin. What do the latest forecasts indicate for traders?

Bitcoin (BTC) Analysis

Known by the alias Roman Trading, the trader has accurately predicted several significant Bitcoin price movements in the past two months. Given his accurate forecasts, including a dip below $59,000, it may be beneficial to review his latest predictions. He highlights the risk of a price breakdown following the test of lower support levels.

“Touching the lower support. Now we’ll wait to see if we create a bullish divergence. Currently, we have a bullish breakout and retest. However, if any drop begins, the range between $60,000 and $61,000 will likely be tested.”

His expectation of a higher low compared to previous forecasts indicates a relatively optimistic view for cryptocurrencies.

APE Coin and WIF Insights

The altcoin Sherpa anticipates a short squeeze for APE Coin soon, suggesting a potential pullback in price. According to his roadmap, the price will first decline to $1.09, then rise to $1.34 before returning to the support level at $0.916.

Such a drop could occur only if the ApeChain network loses traction. This scenario weakens the predicted layer 3 network-supported rise for APE Coin in the medium to long term. After launching its own network, APE’s price surged, becoming one of the top 100 cryptocurrencies due to new meme coins and increasing liquidity.

WIF Coin, another popular meme coin, has also been impacted by Bitcoin’s decline. The price is approaching the $2.31 support, having dropped 20% from the peak nine days ago. While the support level holds for now, it may retreat to $1.97 and $1.67 as selling pressure increases. Bitcoin’s performance will be crucial in this context.

In a medium-term bullish scenario, reclaiming $2.86 could lead to a journey back to the all-time high of $4.85.