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$LINK #Chainlink
1/
Some thoughts about LINK and how I see it play out over the next weeks.
Short & mid-term, if we want to keep the bullish momentum going, we must hold this level around here.
If we check the weekly, things look a bit bearish to me tough.
1/
Some thoughts about LINK and how I see it play out over the next weeks.
Short & mid-term, if we want to keep the bullish momentum going, we must hold this level around here.
If we check the weekly, things look a bit bearish to me tough.
2/
MACD:
It looks like it is losing momentum & slowly starts to turn. The light greenish candles are supporting the idea of an incoming bearish momentum.
RSI:
This one looks ugly IMO. It is still in overbought territory & is forming some sort of H&S. Not very bullish.
MACD:
It looks like it is losing momentum & slowly starts to turn. The light greenish candles are supporting the idea of an incoming bearish momentum.
RSI:
This one looks ugly IMO. It is still in overbought territory & is forming some sort of H&S. Not very bullish.
3/
VOLUME:
Volume is declining which isn& #39;t bearish in general and could also mean that we are forming some sort of pennant/flag, yet we still need more data here for better conclusion.
PA:
The PA is what makes me feel bearish the most combined with the RSI (continue below)
VOLUME:
Volume is declining which isn& #39;t bearish in general and could also mean that we are forming some sort of pennant/flag, yet we still need more data here for better conclusion.
PA:
The PA is what makes me feel bearish the most combined with the RSI (continue below)
4/
It doesn& #39;t have any kind of clear support here on the weekly.
Zoomed in on the 4H we can see the trend line it needs to hold.
Should it fail to do so, the bearish scenario described above seems likely & I would be targeting $8.50 and $5.00 for potential long entries again.
It doesn& #39;t have any kind of clear support here on the weekly.
Zoomed in on the 4H we can see the trend line it needs to hold.
Should it fail to do so, the bearish scenario described above seems likely & I would be targeting $8.50 and $5.00 for potential long entries again.
$LINK
One thing I wanna add here is the bounce which got rejected on the 0.618 level.
Bulls definitely got a lot of work to do if they want to keep this price levels alive.
One thing I wanna add here is the bounce which got rejected on the 0.618 level.
Bulls definitely got a lot of work to do if they want to keep this price levels alive.
