$ARKM 🚀 🚀 BULLISH MOMENTU 🚀 🚀
Technical Analysis
1. Chart Pattern:
ARKM is currently nearing the apex of a descending wedge on the 4-hour chart, a bullish reversal pattern. The upper trendline is pressing down from $0.76, while support has held firm near $0.68. The price is now coiling within this range, hinting at a potential breakout.
Trade Setup
Bullish Breakout Strategy (Wedge Play):
Entry: $0.722 (confirmation above wedge and 50 EMA)
Stop Loss: $0.690 (below wedge support)
Take Profit Targets:
TP1: $0.755 (near 200 EMA resistance)
TP2: $0.780 (measured move of wedge)
TP3 (extended): $0.820
Risk/Reward Ratio: 1:2.5 to 1:3.5 depending on target
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Alternative Pullback Strategy
If ARKM fails to break out immediately:
Buy Zone: $0.685–$0.695 (wedge bottom and horizontal support)
Stop Loss: $0.668 (below recent swing low)
Target: Retest of upper wedge and breakout play
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Trade Notes:
Volume Watch: Current volume is solid at $11.8M. Look for a surge above $15M to confirm breakout