The worst part isn't the drop—it's watching it surge while you're sitting on the sidelines. $ARB It's up 3.38% in the past hour, trading at 0.1836. It's already gained 8.0% today, and it's just shy of the 24-hour high of 0.1839.
When it shoots up in just an hour like this, people who jump in worry it'll pull back, while those who missed the move worry it'll keep climbing. Neither side gets much sleep. I think these sharp short-term rallies really test your patience: the faster it rises, the faster a pullback can come. At least I wouldn't chase it blindly at this level.
I'm inclined to wait and see if it can hold above 0.1839. If it does, that suggests this rally still has momentum. If it fails to break through and falls back, I'll change my mind right away and treat it as a short-term spike.
Is there still a chance to get in, or can you only watch this kind of rally from the sidelines?
$ARB
#ARB #Market Analysis
When it shoots up in just an hour like this, people who jump in worry it'll pull back, while those who missed the move worry it'll keep climbing. Neither side gets much sleep. I think these sharp short-term rallies really test your patience: the faster it rises, the faster a pullback can come. At least I wouldn't chase it blindly at this level.
I'm inclined to wait and see if it can hold above 0.1839. If it does, that suggests this rally still has momentum. If it fails to break through and falls back, I'll change my mind right away and treat it as a short-term spike.
Is there still a chance to get in, or can you only watch this kind of rally from the sidelines?
$ARB
#ARB #Market Analysis