Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for ARK Innovation ETF (ARKK).
The chart is self-explanatory. The price is currently in a Descending Parallel Channel with the RSI oversold so there may be a short term upward price movement, however the overall trend is still down. I put in multiple support lines to keep an eye on. If price moves back up, expect the areas I noted as major resistance areas.
Included in the chart: Trend line, Support and Resistance Lines, Volume, RSI, MFI ( Money Flow Index), Descending Parallel Channel.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
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ARKK is touching my danger zone line. Be careful. Not financial advice.
Thank you a lot for keeping me in mind :) I know it is the last 5th wave.
MillionaireEconomics
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@drindrin, for sure buddy. Let's hope the downward pressure slows down. It could get worse from here.
MillionaireEconomics
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Feel free to drop in a comment below!
drindrin
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@CRYPTOPICKK, Sir, please try to show the future (not the current hour): next 2 weeks and/ or Q1/Q2 (incl. targets for the important bottoms).
In Q1/ Q2 SAND could be one of the winners (approx. 10x?) I would be grateful, if you could take it under scope. Thx!
MillionaireEconomics
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@drindrin, hello there buddy. My chart is on a 1D view so it's not showing hourly. I don't show targets as I can't predict the future, but for the people that understand how to review a chart I show all the things to keep an eye on. In this chart, a descending channel is generally bullish so there is potential for upside. RSI is in the oversold region, so once again, the price may go up with RSI going back up. I noted the upward trend in my notes already. I would recommend learning what the charts say rather than waiting for someone to show targets because as a trader or investor. These are just my opinions, please do your own research. Good luck to you buddy.
drindrin
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@CRYPTOPICKK, :) I did not mean exactly this chart, but generally. I like and appreciate you work very much (even without targets)
SAND und Ark!!? Please, please, please...
:)))
MillionaireEconomics
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@drindrin, I did the Ark one. I have SAND on my list so you will see that soon. Cheers.
drindrin
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@CRYPTOPICKK, Ark/ USD (not Innovation). Thank you a lot!