ARC technical analysis
News analysis
Market situation almost hasn’t changed in a past couple of days. Bitcoin continues its floating between $6000–6800. According to a recent Bloomberg analysis, the market’s readiness for a new “bullish rally” is indicated by a decrease in the bitcoin cost volatility.
Also, CryptoManiac101 user, who several times became the best author of the TradingView service, according to the results of voting for the most accurate forecasts, published a new post in which he asked crypto community to prepare for a large-scale market reversal.
Action plan.
All the indicators continue pointing to a smooth downward movement with small pullbacks for correction. We will observe the situation and wait for the trend reversal, which will be considered fixing above the mark of 6800
If you look at the situation as a whole, then the same situation is also observed with the price of Advanced Technology Coin, which has long been running between 180 and 200 Satosh. In the case of a positive wave of news from the Bitcoin side, the ARC rate will also go up rapidly.
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Today we will observe the two-week schedule with a four-hour time interval. It shows that the price has repeatedly tested the 220 level and this level will soon be broken through.
Advanced Technology Coin price is moving up, according to the history of trades, we can see that the mood in the market is more bullish, as purchase orders prevail. There was a breakdown of the moving average, which also indicates us that the bulls are trying to take the initiative in their hands.
MACD has already recharged enough to resume the upward movement, and moved to the green zone
From the glasses of orders it is clear that the mood in the market is more bullish as large buy orders prevail, and in a red glass there are no aggressive orders, indicating the bearish mood of traders. To overcome the key resistance levels there is a need of quite a bit of effort. So you should put your orders above these positions and buy back at the level of 200–210 to get the maximum profit at the initial stage of growth.
Support level 188;
Resistance Level 250;
210 buy orders;
Orders for sale 300.
