We notice a Failing Wedge Pattern on ARPA - H4 Time Frame
The price is just testing the Resistance Line at the moment.
Breaking of this level and eventual retest may confirm us the reversal of the last bearish move.
That move has been accompanied of nice volume that is a bullish sign.
ARPA is still trapped inside this descending channel as the price keeps making lower highs. The next immediate support below is 120 sats and top resistance is 140 sats.
Until this pattern is broken, price action will just move sideways within a week. In the short term, Bears have control of this market situation.
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I'm going to show you my ARPA trading plan in BTC and where are the best places to open positions.
Look at the latest analysis update The illustrations are illustrative.
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Young coin. It was created in July. Satoshi price, therefore it is easy to pump up and keep the price, a lot of coins. People are not afraid to buy cheap even on "X")) The coin was made only to earn real money temporarily, on those people who believe in legend and perspectives.
The legend of the project is a confidential computing network. Traded on the HUOBI...
When you look at Arpa after binance listing, you can see the correction around 135-140 which was the price before Binance listing. We can see a bit longer consolidation process at current level and slowly will go up with the mainnet news and trade event activity on binance in December.
Arpa has dropped ever since its debut on Binance from 292 to its current level of 152. Here's a few bullish indicators which could see it jump over the next few weeks:
Looks like things could turn around from here. A strong support at 141 satoshi,
MACD crossover on the 4 hour,
Good risk/reward ratio of 3.78 to 186 Satoshis,
This is new baby with little data, so far what I spotted on 1hour timeframe has been some kind of Descending broadening wedge like pattern.
Level to focus more on is 219 sats level, if hold the coin has more potential for rising and if failed, price will easily go more down to test out the bottom side trendline.
The chart is self explanatory. Enjoy.
semms like Arpa founded bottom finally, after higher low and higher high, broken downtrend line , on H1 tf wecan see bullflag pattern wich is bullish continuation setup. volume rising, when price moving up wich is also bullish, worth to watch .
Great area for buying.
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...