Ark found the support at 18k satoshi and started to moving higher while breaking above the 200 Moving Average as well as the descending channel. After the breakout price corrected back and first rejected the Moving Average and then the upper trendline of the descending channel, both of which this time acted as a support.
With such price action, the uptrend scenario becomes more and more likely where ARK/BTC could rise up to 100k satoshi psychological resistance levels. This level is also confirmed by technical analysis, where two Fibonacci retracement levels are inline with each other. the 76.4% and 327.2% levels. Only a break and close below the Moving Average could invalidate bullish outlook.
With such price action, the uptrend scenario becomes more and more likely where ARK/BTC could rise up to 100k satoshi psychological resistance levels. This level is also confirmed by technical analysis, where two Fibonacci retracement levels are inline with each other. the 76.4% and 327.2% levels. Only a break and close below the Moving Average could invalidate bullish outlook.
Comment:
Wave up started
Comment:
Next wave up should start now
Comment:
Ark is back to support, perhaps a good buying opportunity