Arbitrum sitting on 0.618 fib retracement of wave ((i)) or ((a)) and support of previous low from 0.7390.
Wave ((ii)) or ((b)) an expanded flat correction with wave (c) a 5 waves decline from 2.4250 to 0.7333 that broke below previous low 0.7390.
At this level we are watching for evidences for a possible shift to the upside as oscillators are showing bullish divergence and trend to the downside is showing weakness.
Price must clear 0.9984 and 1.2754 in 5 waves for a wave (i) of ((iii)) or ((c))).
We will post updates soon with an intraday count.
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