I have been following LINKUSDT for a while now and will give a breakdown of the analysis I did applying Fibonacci alongside trendlines, support/resistance, and candlesticks.
1. The market is currently bullish, making this somewhat easy to analyse.
2. The chart has been obeying the bullish channel and moving along smoothly. The previous resistance around $7.29 followed a .5 fib retracement and printed a double bottom around $6.95 confirming the continuation of the trend.
3. Given the $7.29 resistance has been broken, fib extension analysis shows we could be headed for $8 or the 1.681 ext. level before any serious profit-taking occurs.
4. All these are dependent on bitcoin of course.
1. The market is currently bullish, making this somewhat easy to analyse.
2. The chart has been obeying the bullish channel and moving along smoothly. The previous resistance around $7.29 followed a .5 fib retracement and printed a double bottom around $6.95 confirming the continuation of the trend.
3. Given the $7.29 resistance has been broken, fib extension analysis shows we could be headed for $8 or the 1.681 ext. level before any serious profit-taking occurs.
4. All these are dependent on bitcoin of course.