SasanSeifi| Are We on the Brink of a Bullish Trend? 
2024-10-20

Hey there, ✌  BINANCE:ARBUSDT  In the daily timeframe, as you can see, the price has corrected from the 1.20 range down to the 0.45 cent levels. After this correction, it entered a consolidation phase around 0.50 cents. Currently, the price has shown a positive reaction to the 0.50 cent demand zone multiple times and is now trading around the 0.60 cent level, near the descending trend line.

If we see a daily candle close with a strong body and a break above the trend line in the 0.62 cent area, with confirmation on lower timeframes, there is a potential for further growth towards the 0.6880, 0.70, and 0.75 cent levels. The outlook remains more bullish at this stage, with the key support in the daily timeframe around the 0.55 cent level.

💢This analysis is my personal viewpoint and not financial advice. If you found this helpful, please like and comment – I’d love to hear your thoughts! Happy trading! ✌😊