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ARB closed @ 135 ! Broken first level resistance and first gap fill
Next resistance levels look to be 125, then down to the next gap fill between 80-100. I think We can safely say If it reaches down to that level we can class this as a correction
If BTC can Raleigh back above 56k, ARB should be able to quickly recover form current level I reckon. But after last weeks BTC vs ARB price action anything is possible.
Yep - from a TA perspective BTC has now dipped below the 50.MA for first time in months, which ZM uses a very bullish momentum driver.
Above 56k is where it needs to close to show resilience.
Interesting on 4hr chart, RSI is already dived into 20s, - well oversold .
Arb likely to be shorted again tomoz
Hi Will- doubt.
We all now know resisting is still another 6-7:weeks away so not much else to discuss and speculate. I reckon BB foot flow will pick up again in a mth.
Im current considering whether to change balance of pfolio given bearish sentiment arose small cap index. oil & gas, precious / exotic metals and energy stocks still look buoyant .
Thoughts on this?
There was a 10% short that was in place last Friday which was reduced down to 3% Tue, these were the ones that closed @ 200 yesterday I presume.
But now seem to have a new positon has opened up as @ yesterday most likely with an even lower closing position.
My guess would be possibly down to 1.50 or 1.60 mark , where resistance and gap is.
It's a case of better the devil you know
ATB
Huge buys after close @200 mark. Must be short positions hitting their close target at last placing price
Either it bounces tomorrow hard, or there are other short position in play still possibly hoping BTC heads sub $60k and possibly back to $55k. Very brave if they do, then next target down is gap fill on chart @ 1.60 level.
But Can’t see that near term.
Fingers crossed BTC holds and this bounces hard back to mid 2s this week
Is it just me or is is still bearish this month for small caps
A lot of high profile small / mid cap companies appear to be being targeted by pro shorters who appear to be Taking full advantage of the hype surrounding some of these stocks and stopping any new liquidity stimulus from ISAs in their tracks - or so it seems.
Purely my opinion and observation mind....