Today Ardor hit the 2143 satoshis, that is 327.2% Fibonacci retracement level applied to the corrective wave up, after the ascending channel breakout. The support has been rejected cleanly, after which price went up, but rejected the downtrend trendline.
It is a very interesting timing for the Ardor, because today's' low could be the very bottom of the downtrend, or very near it. But as of yet, there are no confirmation of that, therefore it would be reasonable to at least wait for the downtrend trendline breakout.
Daily break and close above the 2422 satoshis resistance should be the first confirmation that ARDR/BTC is planning to move higher. On the other hand, daily break and close below the recent low might result in a consolidation, spike down or even the downtrend continuation.
It is a very interesting timing for the Ardor, because today's' low could be the very bottom of the downtrend, or very near it. But as of yet, there are no confirmation of that, therefore it would be reasonable to at least wait for the downtrend trendline breakout.
Daily break and close above the 2422 satoshis resistance should be the first confirmation that ARDR/BTC is planning to move higher. On the other hand, daily break and close below the recent low might result in a consolidation, spike down or even the downtrend continuation.
Trade closed: target reached