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jacobcanfield
Sep 7, 2019 4:40 AM

LINK - Potential Bounce Zone for a 23% Profit  Long

ChainLink / BitcoinBinance

Description

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%.

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.
Comments
Cornholeio
is this still valid if it goes into buy zone?
Nandoyah
Is this still valid?
chartcutie
Great chart!! I like how you mentioned the 200 MA in your description. :)
I just published my very 1st chart idea a little while ago!!! Looking forward to seeing more of your charts!!
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