Yello, Paradisers! ARBUSDT is showing good signs of bullish momentum as it completes a proper retracement with descending channel and begins forming a W-pattern near the key support zone. This classic pattern is a strong signal that the odds of an upward move are increasing.
šHowever, to confirm this bullish scenario, ARBUSDT needs to break out above the resistance level following the completion of this W-pattern. Until then, thereās potential for consolidation or even another retracement. This is why waiting for a clean breakout is critical to avoid premature entries.
šIn the event of panic selling, the strong support zone could act as a bounce-back level. To increase confidence in this scenario, weāll need to see a bullish I-CHoCH (Internal Change of Character) on lower timeframes. Additionally, ARBās strong fundamentals add weight to the probability of a recovery from support.
šOn the flip side, if ARBUSDT breaks down and closes candle below the support zone, this would invalidate the bullish setup entirely. In this case, itās prudent to stay patient and wait for a better price action structure to form before taking any positions.
Trade smart, Paradisers, and rememberādiscipline, patience, and a solid strategy are your greatest tools in navigating the market successfully!
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