$ARB is up 7.6% in 24h but still down 3.38% on the week, and that gap is the whole trade. it's a dip inside a +41.36% 30 day run.
against BTC it's ahead by 33.9 points over 30 days and 0.7 points over 7 days. a coin that was just the weak one in its group wouldn't hold that. the screener scores the setup 10 out of 14, which is good, not perfect.
the ugly part, since i'm not hiding it: volume over the last 5 days is only 0.45x the 20 days before, and the daily MACD histogram is still negative. so i'm calling a grind, not a breakout. a bounce on thin volume is still a bounce until the daily EMA20 says otherwise.
$ARB trades at $0.1972 right now. if it holds the daily EMA20 at $0.193444, i think it walks up to the 20-day mean at $0.204405, about 3.7% away and just past the 24h high of $0.2031. if it loses $0.193444, i'm wrong on this and there's nothing to defend. if you're long, that break is the bounce failing.
holding $0.193444 or losing it?
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against BTC it's ahead by 33.9 points over 30 days and 0.7 points over 7 days. a coin that was just the weak one in its group wouldn't hold that. the screener scores the setup 10 out of 14, which is good, not perfect.
the ugly part, since i'm not hiding it: volume over the last 5 days is only 0.45x the 20 days before, and the daily MACD histogram is still negative. so i'm calling a grind, not a breakout. a bounce on thin volume is still a bounce until the daily EMA20 says otherwise.
$ARB trades at $0.1972 right now. if it holds the daily EMA20 at $0.193444, i think it walks up to the 20-day mean at $0.204405, about 3.7% away and just past the 24h high of $0.2031. if it loses $0.193444, i'm wrong on this and there's nothing to defend. if you're long, that break is the bounce failing.
holding $0.193444 or losing it?
follow me for more calls like this.