LINKUSDT is testing the ascending channel support as expected from my previous analysis.
The market is printing an ascending triangle pattern.
Breakout above the ascending triangle resistance could be a bullish signal ⬆️.
LINKUSDT brokeout above the ascending triangle resistance as expected from my previous analysis. The market rejected the ascending channel resistance and fibonacci extension level (1.0). Potential BUY re-entry at fibonacci retracement levels + ascending channel support + breakout above pullback resistance ⬆️
Mid-Term Forecast
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.00110).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. LINKBTC is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which...
I think there's a good chance we may be seeing the beginning of a volatile and rapid bearish expansion for $LINK.
We can see a high correlation between Chainlink's chart to a typical market bubble / blow-off top - including an almost vertical, aggressive final phase finishing off with a spinning top on the 12H.
Looking at the hourly chart, we can see that we've...
Have called the short at 8.5. After a majestic 100% rally in just few days, bulls are taking a breath while bears are cashing in.
Link bounced at support in 7.1 area, but we might experience further downward pressure to 6.8 where 100 moving average sits and 5.8-6 at 200 MA levels. Overall am bullish on the coin, but better to be cautious, as also MACD doesn't...
I am going to use this trading zone until the mid-year .
I think the 200 day will meet with the 200 weekly in July BUT may start to rise slightly before in May.
I have obviously extended 200 days and 200 weeks.
there's no real reason why #bitcoin would push through before then,
we may even drop to below 7200 before.
RSI line is the test, small upturn
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,...
Link is showing signs of a repeat pattern as shown on the chart. Wedges formed and price looks to continue respecting them. Target sell zones added, scalping possible.
