Here's a likely opportunity if ARB's short-term range formation extends and BTC remains bullish.
cooled off from the recent rally, easing to $30.68k from $31k as of press time. The short-term pullback could derail further uptrend, making the $1.15 roadblock more formidable.In the second half of May and early June, the $1.06 level was a key support level. But it cracked on 10 June during heavy selling pressure after BTC dropped to $24k. But BTC rebounded, boosted by institutional interest, tipping ARB to flip the $1.06 into support again.
Thus, the stretch between the FVG and support could act as a bullish stronghold. If BTC remains bullish >30k, ARB’s pullback will not likely morph into a downtrend. A rebound from $1.064 could be feasible, targeting the range high of $1.15. The bullish thesis will be invalidated if the $1.064 short-term support cracks. Such a scenario could set ARB to retest $1.0 or $0.92 levels.
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