$ARB #ARB ๐
Direction: SHORT
Entry zone: 0.160 to 0.164
Stop loss: 0.168
Target 1: 0.157
Target 2: 0.152
Arbitrum is trading near 0.1632 dollars, down 6.19 percent in 24 hours, one of the weakest large caps this morning, inside a range of 0.1559 to 0.1729 dollars, with 193.1 million dollars of 24 hour volume, and the recent closes show sellers grinding price lower step by step, 0.165681, then 0.164633, then 0.163878, then 0.163702, then 0.163181. ๐ด My reading is that ARB is in a clean down move with real volume behind it, because heavy volume plus closes drifting lower on a red morning is distribution, not a shakeout, even though the coin is still up 6.02 percent in 7 days. A short from the current zone, with a stop above 0.168, targets 0.157 first and then 0.152 if sellers break toward the range low. A push above the stop kills the idea without debate.
Futures trading is risky. Trade small, use a stop loss, and do your own research. This is my reading, not a guaranteed signal.
Does Arbitrum break 0.157 first, or bounce back above 0.168? ๐ค
Follow for more trades.
#Arbitrum #Crypto #FuturesTrading #TradingSignals
Direction: SHORT
Entry zone: 0.160 to 0.164
Stop loss: 0.168
Target 1: 0.157
Target 2: 0.152
Arbitrum is trading near 0.1632 dollars, down 6.19 percent in 24 hours, one of the weakest large caps this morning, inside a range of 0.1559 to 0.1729 dollars, with 193.1 million dollars of 24 hour volume, and the recent closes show sellers grinding price lower step by step, 0.165681, then 0.164633, then 0.163878, then 0.163702, then 0.163181. ๐ด My reading is that ARB is in a clean down move with real volume behind it, because heavy volume plus closes drifting lower on a red morning is distribution, not a shakeout, even though the coin is still up 6.02 percent in 7 days. A short from the current zone, with a stop above 0.168, targets 0.157 first and then 0.152 if sellers break toward the range low. A push above the stop kills the idea without debate.
Futures trading is risky. Trade small, use a stop loss, and do your own research. This is my reading, not a guaranteed signal.
Does Arbitrum break 0.157 first, or bounce back above 0.168? ๐ค
Follow for more trades.
#Arbitrum #Crypto #FuturesTrading #TradingSignals
