LINKBTC Range Resistance|Stoch Equilibrium|Declining Volume
Evening Traders,
Today’s Analysis – LINKBTC – trading at key high time-frame levels, breaking above range resistance will lead to a blue sky breakout.
Points to consider,
- Trend bullish (consecutive higher lows)
- Key Dynamic support
- Range resistance (Pivot Point )
- RSI above 50
- Stochastics equilibrium
- Declining volume
Links weekly structure is bullish with consecutive higher lows respecting its dynamic support. Breaking this support will increase the probability of testing the range midpoint.
Range resistance is a pivot point on the chart, weekly candle closes above this level will be bullish, historical price action has never closed, only managed wicks.
The RSI is trading above 50 which has been maintained for over two years, breaking this level will be notable and bearish.
Stochastics is trading in a valid equilibrium; price action will be backed with momentum as the stochastics breaks from its apex.
Volume is clearly declining which is an indication of a breakout being imminent. Usually high time frame level breaks are backed with increasing volume.
Overall, in my opinion, LINKBTC is at a pivot point on its chart, breaking above range resistance will increase the probability of a blue sky breakout. Price action needs to be backed with increasing volume for confirmation.
What are your thoughts?
Thank you for following my work!
And remember,
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.” – Jesse Livermore
Today’s Analysis – LINKBTC – trading at key high time-frame levels, breaking above range resistance will lead to a blue sky breakout.
Points to consider,
- Trend bullish (consecutive higher lows)
- Key Dynamic support
- Range resistance (Pivot Point )
- RSI above 50
- Stochastics equilibrium
- Declining volume
Links weekly structure is bullish with consecutive higher lows respecting its dynamic support. Breaking this support will increase the probability of testing the range midpoint.
Range resistance is a pivot point on the chart, weekly candle closes above this level will be bullish, historical price action has never closed, only managed wicks.
The RSI is trading above 50 which has been maintained for over two years, breaking this level will be notable and bearish.
Stochastics is trading in a valid equilibrium; price action will be backed with momentum as the stochastics breaks from its apex.
Volume is clearly declining which is an indication of a breakout being imminent. Usually high time frame level breaks are backed with increasing volume.
Overall, in my opinion, LINKBTC is at a pivot point on its chart, breaking above range resistance will increase the probability of a blue sky breakout. Price action needs to be backed with increasing volume for confirmation.
What are your thoughts?
Thank you for following my work!
And remember,
“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street.” – Jesse Livermore