ChainLink - We look to Buy at 2.5000
Short term bias is bullish.
Price continues to trade within the triangle formation.
Bespoke support is located at 2.5000.
Further upside is expected although we prefer to set longs at our bespoke support levels at 2.5000, resulting in improved risk/reward.
Expect trading to remain mixed and volatile.
L.INKBTC broke out of this descending wedge nicely.
Looking at volume we can see that there was a strong move to push past that trendline resistance, as well as through the 100 and 200MA on the 4H
RSI has hit 70, so expect a pullback to the MA
Just keeping an eye on this for now.
I'm learning so this analysis will be quite basic.
No position entered on this one,...
. ChainLink/Ethereum is in an uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 62.
. While the price uptrend in the Daily chart is not broken, bullish wave in price would continue.
. There is a possibility of temporary...