A breakout occurs when the price of an asset moves above or below a significant level of resistance or support respectively. In this case, let's say APTUSD experienced a breakout above the $17 mark. This signifies a potential shift in market sentiment where buyers have gained control and are willing to pay more for the asset, pushing its price above the previous resistance level.
Retest: After a breakout, it's common for the price to retrace back to the breakout point to test its newfound support or resistance level. In the context of APTUSD breaking above $17, a retest would involve the price falling back to around $17. During this phase, traders and investors observe whether the previous resistance (now turned support) holds. If the support holds, it reinforces confidence in the breakout.
RSI is also supporting retest-to the moon theory
Retest: After a breakout, it's common for the price to retrace back to the breakout point to test its newfound support or resistance level. In the context of APTUSD breaking above $17, a retest would involve the price falling back to around $17. During this phase, traders and investors observe whether the previous resistance (now turned support) holds. If the support holds, it reinforces confidence in the breakout.
RSI is also supporting retest-to the moon theory