NASDAQ:ARBK looking to break a 597 day down trend...out of all the Bitcoin minding stocks sending right now.. ROI favors ARBK IMO.
The fundamentals that had this stock trading at 20/share are still there.. Bitcoin is the catalyst and with the spot ETF bonanza being lead by Black Rock.. this feels like a very obvious play.
Key S/R are obvious (under the moving averages and holding under $1.15) and Bitcoin will lead the dance. Bitcoin needs to capture 32k and hold in the next 3 weeks IMO.
Trade active
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This trade is up 50% from time of posting.... wow
Trade closed manually
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Closed at $2.20 based on Bitcoin deviation of the range and failed break out... will look to re-enter depending on Bitcoin PA. ARBK will collect moving averages and test that trendline and that is where I will look for strength or weakness again BTC