Oh Arky Arky Arky.... What a horrible downtrend. Honestly, one of the most manipulated coins, next to OKCash. This coin can absolutely crush your nerves, and put you in loss after loss if you are not careful. Fortunately, I've developed a pretty sound method for making money off this dirty little ****. The trick I found is to draw a support line that is a bit above the average support on the downtrend. As you can see, I have already drawn it to show you. Now after drawing this support line, just buy underneath, and sell above at around 5-10% or when they throw the sell wall back on to manipulate it. That's it. No more guessing. Another good rule to keep in mind with Ark is that if you are near the 24 hour low, it is definitely a great time to buy, because this coin likes to bounce back after reaching new lows. However after bouncing back a bit, whales like to manipulate again after selling off their cheap ark that they purchased whilst manipulating it down.
At this time, a great buy on Ark would be around 57,500-58,000 Satoshis, sell price 60,000-62,000. Anymore and you are playing with fire. Tbh I am not hodling for the long term on Ark myself, however I know that lots of traders are hodling it long term in hopes of it pumping again. I don't really see that happening for a while, but I do see it consolidating around 55,000 satoshis especially if the whales keep manipulating it. Long as you buy under the support line of the downtrend, then you should be able to make some nice profits with Ark.
At this time, a great buy on Ark would be around 57,500-58,000 Satoshis, sell price 60,000-62,000. Anymore and you are playing with fire. Tbh I am not hodling for the long term on Ark myself, however I know that lots of traders are hodling it long term in hopes of it pumping again. I don't really see that happening for a while, but I do see it consolidating around 55,000 satoshis especially if the whales keep manipulating it. Long as you buy under the support line of the downtrend, then you should be able to make some nice profits with Ark.
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At this point, the highest bounce back we can see is to 60k, so if you bought, sell at 59,500-60,000
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Actually 59,000-60,000
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New buy and sell targets -
Below 56,000
Sell target: 58-59
Below 56,000
Sell target: 58-59
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Down to 55, up to 57 now. It seems their new targets are 55,000-55,500, and their buy at 57,000-57,500
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Sell **
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Looks like my initial analysis was on point last night, 57,500-58,000 was a good buy. Bounced back to 60-62k today from 55k, now that is impressive. The market is a lot healthier from the crash than I assumed. Support line is still working fine.
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New buy target for tonight:
Around 56,000
Sell target: 58,000-60,000
Around 56,000
Sell target: 58,000-60,000
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At this time of day is when Ark likes to pump. The whales that manipulate at night now take their profit. Still though, to avoid getting dumped on, buy under the support on the downtrend. If you'd like to risk waiting the next day, it is totally up to you, as we did have a nice bounce back from underneath the support line. However, I do not suggest hodling for more than 2-3 days if you are short term trading.
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We've reached the 55,000 consolidation and bounced back as I thought. If you stocked up awesome. And if you made some good profits from the calls before. Awesome. Either way, I hope you did not sell at a loss. From here, there is a lot of speculation that it is in a reversal, but we haven't broken the resistance downtrend line, so there is a possibility we may drop back down to 55, or even lower.
55,000 already, below the support line