Ark / BitcoinLong
Is ARK getting ready for a big breakout?
A couple patterns I'm seeing here on the longer term (4H chart):
* The ascending triangle pattern is soon converging. If it can finally break out of that triangle and show momentum above it, we could see a potential big jump above the top of the triangle. You can see from the graph that we've had a couple breaks above in the past, depending on where you draw the top of that triangle, but those were big spikes that were unsustainable. A new breakout above the resistance at the top of that triangle (around .00062) could finally mean a big breakout finally above current all-time highs.
* This pattern isn't quite a perfect fit, but it appears we may also be getting a long-term cup and handle pattern. The cup doesn't fit perfectly, but I think the handle could have been called even earlier if not for the artificial drop from the recent China ICO news. On that note, the lack of a significant pullback following that news (in stark contrast to some other coins) gives me even more confidence.
Combine the two, and I'm extremely bullish onARK. It looks primed for a big breakout.
* The ascending triangle pattern is soon converging. If it can finally break out of that triangle and show momentum above it, we could see a potential big jump above the top of the triangle. You can see from the graph that we've had a couple breaks above in the past, depending on where you draw the top of that triangle, but those were big spikes that were unsustainable. A new breakout above the resistance at the top of that triangle (around .00062) could finally mean a big breakout finally above current all-time highs.
* This pattern isn't quite a perfect fit, but it appears we may also be getting a long-term cup and handle pattern. The cup doesn't fit perfectly, but I think the handle could have been called even earlier if not for the artificial drop from the recent China ICO news. On that note, the lack of a significant pullback following that news (in stark contrast to some other coins) gives me even more confidence.
Combine the two, and I'm extremely bullish on
ARK. It looks primed for a big breakout.
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