LINK - Potential Bounce Zone for a 23% Profit
Massive downtrend after a 5 wave impulse.
- Holding support on the 78.6% fibonacci level.
- First test of the 200MA (doesn't usually break first try.)
- Testing the previous supply orderblock for the first time.
- RSI bounce zone historically (holding 30)
- Targeting 13-22% back up to the 61.8% fibonacci zone.
- REN/LINK typically move together and REN has already bounced 40%.
- Holding support on the 78.6% fibonacci level.
- First test of the 200MA (doesn't usually break first try.)
- Testing the previous supply orderblock for the first time.
- RSI bounce zone historically (holding 30)
- Targeting 13-22% back up to the 61.8% fibonacci zone.
- REN/LINK typically move together and REN has already bounced 40%.
Comment:
Broke upwards for about 5%, but broke back down to stop. Altcoins are, in general, very high risk with the Binance shut down, which is why I have posted almost no altcoin charts.
