Pull Back FishingFormer Arc. Parabolic Arcs usually land between the .618 and the .786 fib levels. This one fell a bit further than the .786.
ARCs are caused by extreme bullishness and can fall down to the start of the uptrend or even further after the party is over. Arcs are easier to see on weekly timeframe.
3 outside down is a 3 candle pattern beginning with a green candle, in this case a spinning top which is a candle of indecision. Then an engulfing candle which swallows the 1st candle. The 3rd candle is a red candle which is another red candle and is confirmation. All 3 of these candles are very small, and can mean nothing at all.
ABIT appears to be looking for support. I noticed this one after a friend told me the stock may be of interest. They say never take tips from a friend or an analyst, LOL, but I am watching as I noted negative volume is very high for such a inexpensive stock. This could go lower though. Price is over the 50 SMA and seems to provide support.
No recommendation.
Market cap 36 billion. Athena Bitcoin Inc. operates a network of bitcoin and other crypto ATMs in North and South America. The company’s peer-to-peer exchanges enable individuals to buy and sell bitcoin and bitcoin cash without an ATM. It also provides advisory services on a range of equity and fixed income transactions for companies and real estate developers. The company was founded in 2015 and is based in Chicago, Illinois with a network of locations in California, Florida, Georgia, Illinois, Missouri, Ohio, Pennsylvania, and Texas.
