Long
ARKBTC - a bottom might be in
Updated
It looks like the /a bottom on ARKBTC might be in.
The diagonal of the triangle pattern looks like it can provide support and indicators are looking good:
- Undersold RSI, looking to recover
- MACD crossover
We would make an entry between 2500 and 2600 sats.
- First target is 2745 sats (about 10% profits). In the current market, we would sell 75% at this point.
- Second target is 2945 sats (about 15% profits). In the current market, we would sell 25% at this point.
We would keep a tight stop loss at 2450 sats.
If you profited from one of our trade ideas, we welcome tips at:
- Bitcoin: 1FGtVGU2Ph23j4XtL4ADcqoWBiDnBzaSVf
- Ethereum: 0xdf5D882136D177C8DAb2Cd7dD02D2AD06954276E
The diagonal of the triangle pattern looks like it can provide support and indicators are looking good:
- Undersold RSI, looking to recover
- MACD crossover
We would make an entry between 2500 and 2600 sats.
- First target is 2745 sats (about 10% profits). In the current market, we would sell 75% at this point.
- Second target is 2945 sats (about 15% profits). In the current market, we would sell 25% at this point.
We would keep a tight stop loss at 2450 sats.
If you profited from one of our trade ideas, we welcome tips at:
- Bitcoin: 1FGtVGU2Ph23j4XtL4ADcqoWBiDnBzaSVf
- Ethereum: 0xdf5D882136D177C8DAb2Cd7dD02D2AD06954276E
Note
Drew the support line again. Indicators are still looking positive. However, support is thin. Much will depend on the direction Bitcoin will take and if we will see more volume coming in.Note
Sorry, I meant oversold RSI, not undersold.Trade active
Trade active, there might be some resistance from the upper diagonal line of the triangle. At least 10% of profits should be possible, certainly if we can get some help from Bitcoin.
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