After a powerful triangle breakdown and exiting its range, Arbismart was able to climb to the range of $1.8. However, with the correction of Bitcoin, this currency has also experienced a correction. We should note that this currency was officially pumped during the rise of Bitcoin. We have two scenarios:
1. It may start to rise from this point, because it has corrected up to 50% of itself and is in its own cheap zone from an organizational point of view. The second reason is that it may have hit the ceiling of its previous trading range and may not enter the previous range.
2. The second scenario is that it wants to have a deeper correction to the previous base, in which case Bitcoin must correct a lot and we must have at least some bad news for this currency for the correction trend to continue.
In my opinion, I lean more towards our first scenario. Stay steadfast and profitable.
1. It may start to rise from this point, because it has corrected up to 50% of itself and is in its own cheap zone from an organizational point of view. The second reason is that it may have hit the ceiling of its previous trading range and may not enter the previous range.
2. The second scenario is that it wants to have a deeper correction to the previous base, in which case Bitcoin must correct a lot and we must have at least some bad news for this currency for the correction trend to continue.
In my opinion, I lean more towards our first scenario. Stay steadfast and profitable.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.