LINK has crashed more than 90% from ATH, and I think the cycle bottom could be close. LINK could be trading in a 1:1.618 WXY correction with the bottom target being at $4. I wasn't sure how to dissect the past few months of sideways trading except labelling it as a possible wycoff accumulation with a secondary test coming. $4 also happens to be a high volume node on the volume profile. Ideally, I would like to see the Weekly RSI hit oversold territory, before calling a bottom.
I don't think SPX has bottomed yet especially with US10Y ripping to the upside. Still have my eyes set on $3,200. Big Tech earnings next week could be the catalyst to start the cascade to the downside.
I don't think SPX has bottomed yet especially with US10Y ripping to the upside. Still have my eyes set on $3,200. Big Tech earnings next week could be the catalyst to start the cascade to the downside.
Comment:
On the Weekly MACD, the bears are slowly losing steam as the histogram is forming higher lows. 1 more weekly bearish MACD cross, forming a higher low with price forming a lower low at $4 will confirm the weekly divergence before blastoff imo.