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altchicasignals
Feb 27, 2020 3:25 PM

LINK ANALYSIS (WEAK BOUNCE BY BULLS) Short

ChainLink / BitcoinBinance

Description

LINK ANALYSIS:

LINK is bouncing off a support form the previous ascending triangle, but the declining volume on the bounce shows some weakness within buyers. I think the daily resistance is going to hold a very strong block zone.

There is also a painted divergence on the RSI and Stoch between both highs. This combined with the decreasing volume, AND a small rising wedge makes LINK positioned for another leg down. Im looking for a final target at T3 of 39000 sats. I expect another bounce upon entering the green box.

Short Entries: 42800-43000
Comments
Etch1234
that was clearly an ascending triangle rather than a wedge IMO
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