Quick TA Not looking promising for Chainlink
Comment:
As follows Black and white channels don't quite act as opposites, do to multiple channels run over each other.
Upwards movement:
In white channel until coming into contact with Black channel (Bullish move could push you through current black channel and in to the corresponding White channel above it)
Black channel is a resistance point so ANY deviation into this zone will most likely push you all the way through (you woke see much consolidation in these zones).
Downward movement:
In white channels continue down until hitting either a Black channel or a bullish wave (The deciding factor if you will pass through the corresponding Black channel depends on the ammount of PF channels you ar away from baseline.
Black channels Can act as strong supports in these zones if:
A) The next corresponding White channel downward is not "Touching" closely enough, forming as roughly triangle shapes (if you get caught in one of these black triangles it will be s deep consolidation and will find a high or low based on which type of cycle we are currently in "Bearish ATM").
B) a tight squeeze has occured Which can happen inside or outside the black channel.
The cycle times are the most important as it tells you where you are at in terms of growth (Breaking into upper channel)
And Consolidation ( Traveling up and down in a white channel.
I hope this helps, im trying to explain my thought process as best as i can, but i was never good at showing my work
i was always to busy getting results.
Refer to Black Zones as strong resistance lines from past PF Channels
If you in turn have a conglomerate of Black PF channels intersecting at points on the chart there will most likely bounce off them
(unless closer TA tells you you are going to find newer Highs, "cup and handle", "Inverse HS", "FOMO" into on of the corresponding White PF Channels above.
More TA is always needed this is just the base overview of its current trend.
Black sine is from Highs and lows of 2017 so id say pretty relevant, see how we are seeing the same growth/ consolidation periods, for the past two years or so.
The two Predictive PF are based off my target area for Chain link to fall
So yes the furthest to the right and biggest Pitchfork is a prediction based off of two different aspects:
A) It Will be at the peak of its "Bearish Cycle" corresponding to the new low target zone (Base for both predicted PFs).
B)The bottoms and tops to these PFs are projected highest high and its peak(in Bullish Cycles)
And Projected Lowest lows (In bearish Cycles)
It is the closest "Major White PF Channel" for it to intersect with and it has already passed trough the "Thin Black PF Channel" once already.
I expect a small pump, if any, before falling again to complete my target.
Please let me know if this put more retrospect on the subject as i literally just started charting on the first.
In tandem my first target of BTC was reached after hitting the 12k zone. (Call was made August 1st
Didnt pan out as i planned it to but still hit targets. (idea was updated from that point).
Check out my other charts, as well, to see my works in progress.
Time will tell us everything.
Upwards movement:
In white channel until coming into contact with Black channel (Bullish move could push you through current black channel and in to the corresponding White channel above it)
Black channel is a resistance point so ANY deviation into this zone will most likely push you all the way through (you woke see much consolidation in these zones).
Downward movement:
In white channels continue down until hitting either a Black channel or a bullish wave (The deciding factor if you will pass through the corresponding Black channel depends on the ammount of PF channels you ar away from baseline.
Black channels Can act as strong supports in these zones if:
A) The next corresponding White channel downward is not "Touching" closely enough, forming as roughly triangle shapes (if you get caught in one of these black triangles it will be s deep consolidation and will find a high or low based on which type of cycle we are currently in "Bearish ATM").
B) a tight squeeze has occured Which can happen inside or outside the black channel.
The cycle times are the most important as it tells you where you are at in terms of growth (Breaking into upper channel)
And Consolidation ( Traveling up and down in a white channel.
I hope this helps, im trying to explain my thought process as best as i can, but i was never good at showing my work
i was always to busy getting results.
Refer to Black Zones as strong resistance lines from past PF Channels
If you in turn have a conglomerate of Black PF channels intersecting at points on the chart there will most likely bounce off them
(unless closer TA tells you you are going to find newer Highs, "cup and handle", "Inverse HS", "FOMO" into on of the corresponding White PF Channels above.
More TA is always needed this is just the base overview of its current trend.
Black sine is from Highs and lows of 2017 so id say pretty relevant, see how we are seeing the same growth/ consolidation periods, for the past two years or so.
The two Predictive PF are based off my target area for Chain link to fall
So yes the furthest to the right and biggest Pitchfork is a prediction based off of two different aspects:
A) It Will be at the peak of its "Bearish Cycle" corresponding to the new low target zone (Base for both predicted PFs).
B)The bottoms and tops to these PFs are projected highest high and its peak(in Bullish Cycles)
And Projected Lowest lows (In bearish Cycles)
It is the closest "Major White PF Channel" for it to intersect with and it has already passed trough the "Thin Black PF Channel" once already.
I expect a small pump, if any, before falling again to complete my target.
Please let me know if this put more retrospect on the subject as i literally just started charting on the first.
In tandem my first target of BTC was reached after hitting the 12k zone. (Call was made August 1st
Didnt pan out as i planned it to but still hit targets. (idea was updated from that point).
Check out my other charts, as well, to see my works in progress.
Time will tell us everything.
Then short ~.000228 satoshi
Update if and when targets are reached
Side note could push to bottom of lower channel in one harsh spike
Target ~.000156 satoshi theoretical lowest bottom ATM