The sell pressure couldn't take the price lower and there's little accumulation prior to this uptrend.
here is my updated view on Arbitrum; head and shoulder clearly printed on 1hr TF shows there is imminent drop below the key level. PS- this isn't financial advice.
any breakdown below the current support will definitely see the price action drag down below $1 mark for the first time.
in a short time BTC to 25k region is feasible, as you can see the price action reacted well as it bounced from a key support level. imo, I feel the next target is the red line before the grey box above which indicate the imminent resistance. Having said that, if the BTC dominance keep rising it would only be matter of when before we see BTC @25k again.
Cup and handle is well known for one thing which is continuation of uptrend. Currently HTR/USDT is breaking out of the handle pattern on weekly chart which shows the uptrend is ready to be parabolic, besides the volume from previous week seems okay for now. Imo, 3 - 5$ is imminent in short time.
Retest on the trend line is imminent before the uptrend continues
If all being equal, possible entry should be on the support retest. Entry 0.5886 - 0.600 x3 - x5(market yet to look solid, high Lev at your own peril) SL - 0.45
It's been almost 3 months of uptrend for this particular pair, the current marked brown lines shows a resting stage which more or less another accumulation stage. If the price should close above the top line, $EGLD will be on the run to $500 region in no time meanwhile if the price break below the lower trend line the correct might have a long tail wick to 110 -...
EGLD has been in accumulation for some times now and it broke out with a sneaky pull back which should server as entry for those that missed the break out. It's obvious that it's ready to go on a long uptrend ride. RSI is very strong likewise MA 20 and MA 50 look good at the break out. In the light of this, there a staking coming up on elrond mainnet, believe me...
Btc just broke out of the ranging region from the previous week, we're likely to see btc testing resistance at 11200 then a drop down to 10500 region before going up to 12k$+