Two scenarios for Arbitrum. Black count where we have a finished impulse to the upside and we are going down to complete wave 2 if price clears 1.5427. Orange count where if price clears 2.0883 may be a tringle ((4)) and we are focusing to the upside to end wave ((5)). On this count we used log scale!
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Updated the count into an expending leading diagonal wave 1. Watching for evidences wave 2 finished 1.458 (a complex correction WXY) Also we have equality between waves W and Y. Y wave an expended flat correction. Above 1.458 and clearing 1.7519 we look upward for wave A or 3
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Price must clear 1.7558 to turn Arbitrum up as a possible triangle unfolds in wave b. Clearing 1.6080 we will see price lower to complete the c wave.
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Trading above 1.6581 will favor that an impulse from 2.2783 has ended wave ((c)) of 2 at 1.400.