🔥 ARBITRUM Bearish Support Break Out

Jul 25, 2023

As of yesterday, ARB has fallen through a strong area of support which held the bull trend going for over a month. In my view, there's a high possibility that ARB will continue to fall, potentially even retesting the June lows around 0.92

ARB is quite oversold at the moment, so we're going to anticipate a bullish correction towards 1.19 or so. Stop just above 1.21 for an optimal risk-reward ratio. A more risk-averse trade would be to take (partial) profits around 1$.

Aug 27, 2023

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