$Arb is in a double bottom pattern, showing signs of breaking the trend line and testing it again.
On H4, the price is forming wave 5 within wave 3 of D1.
In the W frame, the trend has changed, with strong volume.
The price has tested the old double top trend line and bounced back strongly.
If the double bottom pattern breaks, one can wait for a pullback to buy up.
- Tp1: 0.7 (Fibonacci area)
- Tp 2: 1.2 old peak area.
A good entry can wait for a break above 0.5 and then wait for a retest of the pattern#ArbitrumBOLD
On H4, the price is forming wave 5 within wave 3 of D1.
In the W frame, the trend has changed, with strong volume.
The price has tested the old double top trend line and bounced back strongly.
If the double bottom pattern breaks, one can wait for a pullback to buy up.
- Tp1: 0.7 (Fibonacci area)
- Tp 2: 1.2 old peak area.
A good entry can wait for a break above 0.5 and then wait for a retest of the pattern#ArbitrumBOLD
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ARB
0.5116
+7.00%