$ARB broke yesterday's high and flipped it into support at $0.1099, and it's still holding there.
this isn't a thin wick. volume the last 5 days ran 2.11x the 20 days before it, with $55M through Binance in the last 24 hours. the MACD histogram is positive and price is pinned to the top of the band at %B 0.99. people are actually buying this one, not just chasing a headline.
i'll say the ugly part too. daily RSI is 71, the setup score is a 6 out of 14, and ATR is 7.2% of price, so a red day here can hurt. it's a hot chart, not a tidy one. i'm still long it.
right now $ARB trades at $0.1112. if it holds $0.1099, i think it grinds up toward the 10-day swing high at $0.1202, roughly 7.9% of room above here. if it loses $0.1099, i'm wrong on this and there's nothing to defend, you're just handing back the breakout and the next real floor is the 24h low at $0.0849.
holding $0.1099 or losing it?
this isn't a thin wick. volume the last 5 days ran 2.11x the 20 days before it, with $55M through Binance in the last 24 hours. the MACD histogram is positive and price is pinned to the top of the band at %B 0.99. people are actually buying this one, not just chasing a headline.
i'll say the ugly part too. daily RSI is 71, the setup score is a 6 out of 14, and ATR is 7.2% of price, so a red day here can hurt. it's a hot chart, not a tidy one. i'm still long it.
right now $ARB trades at $0.1112. if it holds $0.1099, i think it grinds up toward the 10-day swing high at $0.1202, roughly 7.9% of room above here. if it loses $0.1099, i'm wrong on this and there's nothing to defend, you're just handing back the breakout and the next real floor is the 24h low at $0.0849.
holding $0.1099 or losing it?
