ARB fell out of the ascending channel and formed a descending triangle. Usually such a pattern indicates a probable continuation of the trend (in this case downward), but given the oversold condition, we may see a rebound and a return to the channel with targets at 0.72-0.74 in November, with the possibility of going higher.
In this case ARB is highly dependent...
ETH/BTC fell to its lowest level since 2021. ETH to USDT stucked in a wide range and doesn't react at BTC rise at all.
Good signals to watch out:
- have support from September coinciding with RSI
- higher high & higher low
BTC is going to finish 5 wave structure, which are close to 0.38 Fib and strong support level 9100-9200. Invalidates if going above 4th wave (~$10100).
