ARPA/BTC TA Update (Retest Bottom Trend-line?)
ARPA/BTC
ARPA is forming a beautiful bullish descending channel on the 12-hour time-frame.
Though I'm not confident the 114 sats area will hold as the RSI is likely to enter the oversold territory again in the coming days.
The price could drop to the bottom trend-line at around 110 - 101 sats levels before we could see some potential buyers to step-in.
If ARPA hits my buy zone area, I'm expecting the price to consolidate in those regions for at least a week before it will try to push Higher.
It is a long process but that's how the market cycle goes.
ARPA is forming a beautiful bullish descending channel on the 12-hour time-frame.
Though I'm not confident the 114 sats area will hold as the RSI is likely to enter the oversold territory again in the coming days.
The price could drop to the bottom trend-line at around 110 - 101 sats levels before we could see some potential buyers to step-in.
If ARPA hits my buy zone area, I'm expecting the price to consolidate in those regions for at least a week before it will try to push Higher.
It is a long process but that's how the market cycle goes.
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