heiders

ARK upwards potential

Long
BITTREX:ARKBTC   Ark / Bitcoin
ARK has been a very longterm hold for me. They have a very good dev team and strong fundamentals, I suggest to do some research if you are unfamiliar with ARK.

During the alt cycle in December, many alts reached new ATHs. However, ARK failed to do so. Looking at its previous bullrun, I feel like we have only seen the beginning of new cycle in the last few months and there is still a lot of upwards potential. I have indicated a potential reversal area, which we are almost reaching . This area has previousy worked as support/resistantance. If BTC is not moving, I will try to pick up some extra ARK in this area.
Comment: ARK bounced right of the reversal area. Next line to break is the one ofthe downwards trend (pink line).
Comment: ARK was not able to break the trendline, got back in the bouncing area and bounced full off the longterm trendline, to bounce again from the upper trendline. Coming few weeks will see whether ARK is going for its next level up or if we see more correction.
Comment: Looking at the indicators, I'm inclined to say that the chance of going up is higher, since we have a bullish divergence on MACD and StochRSI on the daily.

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