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AndyTheKing

ARPA/BTC - Local bottom (74%+ Potential Profit)

Long
AndyTheKing Updated   
HUOBI:ARPABTC   None
Trend Analysis Chart Patterns Technical Indicators binance arpa ARPABTC huobi arpachain
8
2
trendanalysis chartpattern indicator binance arpa arpabtc huobi arpachain
Great area for buying.

My reasoning:

  • Location: Reload zone within a reload zone.
  • Structure: Double bottom (previous week's open acting as support)
  • Divergence: Healthy OBV, Willy coming out of stupid, histogram divergence has been confirmed on the 12HR.

I will target the Kill zone (red box) of the recent range. If price reaches the top of the box, it will be a 100% trade.

4HR:

snapshot

1HR:

snapshot
Trade closed: stop reached:
How about that Binance dump? Market structure broken so I've exited the trade. If the selling continues, the next area of interest is at 104-105 sats. This is last month's open - purple line.
Comment:
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