ARKBTC - How conditional orders work? Research of recent signal
As you know we have two different strategies to enter a position: buy between specified range and buy above a certain level. When you see them at a signal picture it looks like there is no big difference but it is very important in fact. When you see buy above recommendation it means there is a technical condition which defines further price action.
Looking at the ARKBTC 4H chart we can see a dump with a subsequent short-term pump. Thus they represent major support and resistance in current price action period. Upward supportive trend line which is drawn at the chart was broken on 14th of November.
The price consolidated confirming local bottom and pumped quickly defining the top. ARKBTC value is in the center of the channel and up from this moment we have two possible scenarios: ABC pattern and XABCD pattern. As you can see we already have XABC and AB+ stages for both scenarios. There is an equal probability of finishing these patterns.
Overall
Buy between specified range strategy can not be implemented for ARKBTC while the coin has great fundamentals and technicals. You could think the signal is released so it is better to buy now when the price is lower so there will be more profit. But it is wrong approach because risk is too high.
That is why we used buy above strategy here. We set a condition to buy ARKBTC when the price moves above 0.00002544 at limit price of 0.00002505. Thus you will buy the coin only when there will be one definite scenario which grants you profit!
Signal details are presented at the chart you can use it for trading
Best regards,
SkyRock Signals team
Looking at the ARKBTC 4H chart we can see a dump with a subsequent short-term pump. Thus they represent major support and resistance in current price action period. Upward supportive trend line which is drawn at the chart was broken on 14th of November.
The price consolidated confirming local bottom and pumped quickly defining the top. ARKBTC value is in the center of the channel and up from this moment we have two possible scenarios: ABC pattern and XABCD pattern. As you can see we already have XABC and AB+ stages for both scenarios. There is an equal probability of finishing these patterns.
Overall
Buy between specified range strategy can not be implemented for ARKBTC while the coin has great fundamentals and technicals. You could think the signal is released so it is better to buy now when the price is lower so there will be more profit. But it is wrong approach because risk is too high.
That is why we used buy above strategy here. We set a condition to buy ARKBTC when the price moves above 0.00002544 at limit price of 0.00002505. Thus you will buy the coin only when there will be one definite scenario which grants you profit!
Signal details are presented at the chart you can use it for trading
Best regards,
SkyRock Signals team
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Claim up to 600 USDT in welcome rewards & compete for a share of 5,000 USDT in BitMart Futures Contest!
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
➡ Register & Claim Bonus: bitmart.com/invite/VShg8M
➡ Join Contest: bitmart.com/futures-competition/Skyrexio/en-US
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.