ARBUSDT trade ideas
๐ฅ ARBITRUM Bearish Support Break OutAs of yesterday, ARB has fallen through a strong area of support which held the bull trend going for over a month. In my view, there's a high possibility that ARB will continue to fall, potentially even retesting the June lows around 0.92
ARB is quite oversold at the moment, so we're going to anticipate a bullish correction towards 1.19 or so. Stop just above 1.21 for an optimal risk-reward ratio. A more risk-averse trade would be to take (partial) profits around 1$.
ARBITRUM $ARB FALLING WEDGEAMEX:ARB broke out of falling wedge to find resistance around 1.28
Currently arbitrum price action has found support around 1.15.
#arb needs to remain supported at 1.15 to try for higher
resistances: 1.28, 1.43, 1.56, 1.69, 1.81
Else a retest of 0.92 is inevitable!
Current Price: 1.20
ARB Buy TradeHere is my Study on ARB..
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๐ข ARBUSDT ๐ข LONG - Local on 20.084-hour Chart - ARBITRUM BINANCE:ARBUSDT BINANCE:ARBUSDT.P
Following a strong bearish impulse, we observed a significant rebound.
A long-term movement is emerging through the MSS.
I anticipate a continuation of the bullish momentum towards the removal of EQH (liquidity shelf) within the range of 1.1921 - 1.2068.
... subsequently, I expect to witness a reaction and further downward movement towards the removal of SSL (0.8996).
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ARB USDT Bearish scenario for the YTD!Technical Analysis for this is Bearish, all the MA, Fib, and Structure says bearish.
Sentiment Analysis we just did a wall on it, so more news about how ARB will not be the narrative, which will be more bullish as to our next bull market scenario. The same narrative you get for SOL during 2018 when it was made, it reached its ATL on 1D tf. Crazy, then 2021 bullmarket entered everyone was rich. I cannot say more. ARB is going to be something I will buying more as it threads down. Wait for sideways buy only the confirmations. Watch Trendlines then match it with the news.
updatefollow plan
I am fairly certain that this is wave 5 of the larger wave 2, which will likely exhibit swift and strong characteristics to prompt retail investors to sell coins at a lower price and incur losses. I am awaiting confirmation of a bullish divergence. As you can see from the chart, you will notice a similar pattern of candlesticks that I circled before the price surged dramatically
NFA!
ARBUSDT wants the breakout ?ARBUSDT wants the breakout ?
Flag Breakout: ARBUSDT has experienced a clear breakout from a flag pattern. A flag is a continuation pattern that resembles a rectangle or parallelogram and forms after a strong price movement. A breakout from a flag often indicates a potential continuation of the prior trend.
Testing 0.618 Fibonacci Level: The price is currently testing the 0.618 Fibonacci retracement level. The 0.618 level is derived from the Fibonacci sequence and is a key level in technical analysis. It's often used to identify potential retracement levels during price corrections.
Resistance Flip: You've indicated that if the price manages to flip the resistance at the current level, you are considering a new long position according to your trading rules. Flipping a resistance level to support is a common technical pattern, where a former resistance level, once broken, becomes a potential support level for future price movements.
New Long Position: As per your analysis, a new long position would involve buying ARBUSDT with the expectation that its price will rise. This aligns with the potential bullish momentum indicated by the flag breakout and the potential support flip at the 0.618 Fibonacci level.
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Follow the Shrimp ๐ฆ
Keep in mind.
๐ฃ Purple structure -> Monthly structure.
๐ด Red structure -> Weekly structure.
๐ต Blue structure -> Daily structure.
๐ก Yellow structure -> 4h structure.
โซ๏ธ Black structure -> <= 1h structure.
Follow the Shrimp ๐ฆ
ARB/USDT is Ready to Fly, Arbitrum Analysis Today Dear Paradisers, Take Notes!
ARB finds itself at a pivotal juncture within a triangle formation, hinting at an intriguing turn of events.
๐ At this moment, ARB is making strides to emerge from this triangle. A successful emergence could pave the way for a bullish surge.
๐ However, if the bulls falter in their breakout attempt, ARB might circle back to test its support around the $1.11 mark. As always, the broader market's pulse will be instrumental in shaping this breakout's direction.
๐ On the whole, we're buoyant about ARB reaching these anticipated milestones. Stay tuned with #MyCryptoParadise for more insights!