ARBUSDT trade ideas
ARB looking to retrace a bit before continuationARB looking to retrace a bit before continuation.
The last push up has left a bit of a gap, and currently price is cooling off.
Likely price will return to the gap, 0.382 for a bullish bounce. If it falls through that, there is support at the 0.5 fib level.
ARB/USDT Break the Descending channel, Bullish Momentum ???Yello Paradisers, Potential Coin! #Arbitrum
๐ ARB has broken out of the descending channel on the 4H timeframe. This could signify bullish momentum for ARB, especially if the daily candle closes above the pattern.
๐ Examining previous movements, ARB has been navigating within a falling wedge pattern. Interestingly, the most recent lower low did not reach the support trendline of the falling wedge, but it did align with the Fibonacci 1.414 target down.
๐ Should the breakout of the descending channel fail, ARB is likely to revert downwards to test the Fibonacci area. This could be an optimal accumulation point as prices touching the golden ratio of 1.618 often result in significant bounces. Notably, this golden ratio also coincides with the area support trendline, enhancing the likelihood of a price bounce upon contact.
ARBUSDT - LongHello Traders, ARB, we can observe a potential double bottom formation, which suggests that the price may have the potential to rise from the 0.78% Fibonacci level. If the double bottom pattern does not materialize, then the lower boundary of the channel would become the ideal buying zone.
ARB/USDT When Will We Drop? Hey traders๐
We see a good opportunity for price of ARB coin to reach for upper EMAs zone before further drop to lower zones! Keep yours eyes opened here for sure!
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Swallow Team
Disclamer:
We are not financial advisors. The content that we share on this website are for educational purposes and are our own personal opinions.
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Navigating the Downward Spiral
In the 1-hour chart, an intriguing development has unfolded for ARBUSDT. The bear flag support has been decisively breached, pointing towards a forthcoming downward spiral that may lead the price to new lows. This critical breach signifies a shift in sentiment, with bears gaining the upper hand, driving the price action with conviction.
As astute traders, we must exercise caution and avoid impulsive actions. It would be wise to wait for a potential retest of the breached bear flag support, as prices often have a tendency to revisit previous levels before continuing their descent. This retest can serve as a confirmation of the bearish momentum, offering a strategic opportunity to open a short position.
By capitalizing on this impending downturn, you could potentially accumulate profits to finance an indulgence that has caught your eye - a shiny new iPhone. However, skillful execution and disciplined risk management should be at the forefront of your trading strategy.
Stay attuned to the market dynamics and closely monitor the price action to seize the optimal entry point for your short position. Technical indicators, such as bearish candlestick patterns and downtrend confirmations, can provide valuable insights as you navigate this trade.
Remember, adventurous traders, the path to success lies in careful analysis, calculated decision-making, and disciplined execution. Keep your wits about you, watch for the retest, and make a trade that could unlock the doors to your next big splurge - that enviable new iPhone.
Best of luck, and may the market gods be ever in your favor!