LINK is building a symmetrical triangle pattern on the 4 hr chart.
Depending on the overall market mood and BTC movement, can break to the upside or break down to continue the bearish trend.
Hoping for the upside.
Picked up some CHAINLINK for the mid-term during the dip at 31 USD.
*A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.
Depending on the overall market mood and BTC movement, can break to the upside or break down to continue the bearish trend.
Hoping for the upside.
Picked up some CHAINLINK for the mid-term during the dip at 31 USD.
*A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend.
Trade active:
Apr 23 - Broke to the downside and passed 31.5 key support area.
Next level of support to watch - 28.75 USD.
Next level of support to watch - 28.75 USD.