Today, we start by looking at the overall altcoin market with a new chart that we are calling the"total market cap 3" (see video).
This index basically measures all coins except BTC and ETH.
Based on the charts, alts have been pumping hard lately, but we could soon be due for a pullback based on past price action.
No biggie, though; it just means we can scoop up some deals if there's a dip! đ
Now let's talk about Arbitrum.
This layer 2 scaling solution traced back nicely to key support levels last week, like the Fibonacci 61.8%.
An inverse head and shoulders pattern is potentially forming, which could take us up to test recent highs around $1.30. đ That would be a solid 20% gain if it plays out. đ°
So the game plan is: đ
- Wait for a dip back down near $1 on ARB.
- Get ready to buy in around that price point.
- Target the last highs to take profits.
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