A trendline break and a retest... KUCOIN:ARXUSDT
ARXUSDT - KuCoin cause the 2h base is engulfed i expect a pullback to last base for more going down.
Clear downtrend identified with sideways consolidation inside of a support zone (box indicated). Strategy is buying near bottom of box and/or upon breakout of downtrend line/80 whichever comes with volume.
Buy: 0.017 - 0.018 Stop Loss: 4 Hour close below 0.0165
I tend to consider the geometrical implications upon price charts, and when I notice that one section of a price chart has a different level of steepness than the other previous level, I tend to consider that a new trend based on momentum and price range. I don’t just look at one time frame per price chart, but let’s look at this 1D chart of ARX (which is up 30%...
ARX (ARCS) is at the bottom of the accumulation zone. Itcould be a good opportunity to buy at low risk.