After a beautifull run up (see link below for set up), ARK did a deep retrace....all the way down to fibo 78,6. This was way further as I expected and I got caught in a failed breakout and the dump from last days. As I'm long term bullish on ARK, I took the opportunity to add more to my position around that fibo level.
The target shown on the 240 chart is longer term, considering we just started the next leg up (5th leg out of 5). MACD is close to turn green again. Short term I'm expecting a bit of corretion after this nice recovery. RSI is almost overbought.
Tradingadvise: wait for a smaller correction to hop on the ARK train, previous runs show the potentials of this coin. In terms of moneymanagement I would advise to keep an eye on BTC movements. If BTC bulls start to run again, alts might make another dip. If ARK falls below the 78,6 fibo it might drop all the way to where it started for a new accumulation period.
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A deeper retrace as expected due to BTC bulls. Once alts bounce, ARK will be one of the leaders imho.
ARK is due for a major breakout people who sit back and wait for the drop with just push the FOMO Higher when it does take off.
gokseluysal
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Kissing the trend-line, time for break-out
nginx
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BTC is crushing all the alts. I would hate to see what happens to the alts if BTC goes onto make a run towards $6000 as you predict. Ark has reversed the downtrend but it is being forced to restest the support thanks to BTC.
yeseguxesii
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Please sir your work is fantastic, I would love to see more of it...