Will history repeat itself for ARK?
Updated
This is a super speculative forecast, I'm interested to hear the communities thoughts.
ARK has been on a tear the last month or so, and the RSI on the daily shows it. The RSI on the daily has only reached the level recently attained two other times in the record. Each time, a long drawn out corrective wave follows.
If correct, ARK will enter an accumulation phase and then start another bull run in November.
ARK has been on a tear the last month or so, and the RSI on the daily shows it. The RSI on the daily has only reached the level recently attained two other times in the record. Each time, a long drawn out corrective wave follows.
If correct, ARK will enter an accumulation phase and then start another bull run in November.
Note
Target looking good.Note
Update regarding the theory (Wycoff) behind the prediction. What makes markets go up or down? Supply and demand, right? Ok, but what makes markets go up over 800% in two months (the move in ARK from 7/29 to 9/14)? A move like that is managed, manufactured. It is due to large interests running the market, accumulating at lows and distributing at highs... where the gen pop usually purchases.
Here are the mechanics of the move. A large interest accumulates massive amounts of the coin during an accumulation phase, between 6/7 and 7/29 in the ARK chart. What does this do? It restricts the free-floating supply of ARK, so that at the right time a little bit of demand can create a disproportionate move higher in the price action. Something peaks the publics interest, maybe a rumor, and the markup phase begins (7/29 to 9/14 on the chart). During this phase, the person(s) running ARK distribute to the general public at higher prices than they purchased it. Then, when the distribution phase is complete, supply has been returned to what it was before accumulation and now the coin is in weak hands. Both situations lead to a mark-down phase and then a re-accumulation phase where the interest readies the next move.
So the question, in my mind, shouldn't be simply what is on the horizon for ARK. The question should be:
How long, after the interest running ARK completed a HUGE distribution phase, will he need to re-accumulate those coins at lower prices to ready the next markup?
My prediction may be too far out, I'm no expert, but there is the logic behind it.
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