MACD about to cross bullish on 4hr causing a bullish bounce of MACD on 1day chart.
Double bottom formed in short time frame.
Symmetrical triangle formed and near breakout.
If BTC doesn't go crazy, im seeing an easy 20% profit.
Look at the yellow arrows pointing out different sections of each fractal, even scotch RSI matches almost spot on. Judging by the last drop of 12.5% we could see nearly the same resulting in a drop to ~6100USD with strong support around 6000-6100USD
Looking like ARK is forming a gnarly bear flag right now, however, it hasn't stopped ARK from gaining before.
Three possible situations:
Orange arrow if this bear flag is invalidated as it is a fib support. Unlikely in my opinion.
First small red arrow, this is more of a likely situation. Year-span trendline support at the first small green "buy" zone.
If...
Fib support around .000329
Possible support around .000300 Sats
Strong support around .000210
60 day moving average just crossed 90 day moving average, bearish
Father BTC is looking bearish. BTC moving in any direction at a fast pace is never good for Alt Coin. We need a stable BTC before we will see ARK prosper.
Let me know what you think!
This is all...
Support around .000122
Resistance at .000165 at .786 FIB, expect bounce if BTC stays stable, expect it to drop to support at .0000823 if BTC tanks or rockets
MACD looking like it wants to play bullish here
Pray for BTC to stay stable
This is not financial advice. Strictly a hobby of mine to help learn TA.
Bullish MACD cross.
Bullish Hammer Formed.
Possible it hits resistance and falls at .618 fib.
This is not financial advice. This is purely for hobby and I am no expert.
