Argo Blockchain Plc
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Trade ideas
This is like buying Apple for 0.5USDNOT a financial advice, trade at your own risk!
LONG term EXTREMELY BULLISH if you believe in #bitcoin power.
Mining rig was too expensive for me, so why not to have hash power provider stock?
LSE:ARB strongly tied to BTC/GBPBTC/GBP price movements tend to preceded simular movements of Argo Blockchain stock (a British company which reports in GBP=. As cryptocurrency miners their profit is heavily dependent on the price of Bitcoin.
Look for 3.72p-4.24p support if 5.8p-6p is lost - BearishAs BTC price seems weak at moment & with seller at hand I failed to see any bullish case here at moment but could be wrong.
I have this company on watchlist with big interest, best to be patient & look to enter at ideal price level with unstable markets.
Next support level at 3.72p- 4.24p
Swing up to come by xmas / 6p-7p support levelAt the moment there is weakness but as crypto tends to improve around xmas time we could well see a nice uplift in this company
They specialise in mining Bitcoin among others.
6p to 7p support level
6.88p is 50% retracement of the highs
5.88p is 61.8 fib retracement
Scaling in 6p-7p looks like a good level.
