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Crypton

🔥 Arbitrum's Short Looks Great: Patience For Reversal!At the start of the month I was looking for a short entry on ARB, which has been playing out great thus far. However, with ARB losing value rapidly, I'm starting to look for long opportunities. ARB is trading in a very well-defined bearish channel (or wedge). My strategy is to wait for the price to touch the bottom support. Ideally, the daily RSI will be below 30 to increase the reversal probability. Until then, the short stays active. Patience is key.
Short
by FieryTrading
3
🔥 CAKE Horizontal Channel Break-OutAfter a flying start, CAKE has died down a little. Over the course of the last week CAKE has shown small signs of recovery: the low of around 8.30 seems to be the low for now. With Bitcoin and many other crypto's on the rise, it's to be expected that CAKE will soon see some more bullish price action and break-out of the channel. Before entering this trade wait for the price to close above the Entry line. Higher time frames yield a higher predictive power. On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence. Happy trading!
Long
by FieryTrading
27