Hello Traders,
Today's Technical Analysis will be on LINKBTC with its decent retracement from its blue sky breakout.
Points to consider
- Held support at the .618 Fibonacci level (Fib levels are only considering body candles not wicks in this TA)
- Three touches confirming trend line
- Structure has been putting in lower highs and higher highs
- Potential falling wedge pattern
- Extremely low volume thus breakout is highly probable
- Potential Higher Low in place if trend continues bullish
- EMA's neutral not showing much significance right now
- RSI currently neutral
- Stoch's however showing more potential of downwards momentum
Link could retrace right back to the .618 Fib before making another move up, however if the trend line is broken, then whole market structure will be overturned. This will make the structure more bearish, signifying that the correction is not over and further downside is probable...
What are your thoughts?
And remember,
“Holding losses and hoping to break even is not an investing or trading plan. That is dumb money on suicide watch!” ― Fred McAllen,
Today's Technical Analysis will be on LINKBTC with its decent retracement from its blue sky breakout.
Points to consider
- Held support at the .618 Fibonacci level (Fib levels are only considering body candles not wicks in this TA)
- Three touches confirming trend line
- Structure has been putting in lower highs and higher highs
- Potential falling wedge pattern
- Extremely low volume thus breakout is highly probable
- Potential Higher Low in place if trend continues bullish
- EMA's neutral not showing much significance right now
- RSI currently neutral
- Stoch's however showing more potential of downwards momentum
Link could retrace right back to the .618 Fib before making another move up, however if the trend line is broken, then whole market structure will be overturned. This will make the structure more bearish, signifying that the correction is not over and further downside is probable...
What are your thoughts?
And remember,
“Holding losses and hoping to break even is not an investing or trading plan. That is dumb money on suicide watch!” ― Fred McAllen,