In my last ARB analysis I talked about the falling wedge and the break out that I anticipated from said pattern. Both targets were hit with ease, congratulations if you took the trade.
For now, I think the bull trend will continue. With BTC edging up and higher time-frames not even being overboughton ARB, there's a very decent probability that we're going to move towards the current all-time highs on the chart. However, on lower timeframes the ARB chart is overbought, so we might see a minor pull-back towards the yellow support area .
Targets in blue.
If BTC can confidently break above $30,000 we might see some huge buying power going to alts, which could even bring ARB to >$2, but that's for a later analysis.
