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jpbrown1023
May 3, 2018 4:01 AM

LINK - Am I seeing double (Inverse Head and Shoulders)?! 

ChainLink / BitcoinBinance

Description

Hey folks! Looking at the 4-hour chart for LINK, I see a the price has run into some resistance (blue dotted line). The MACD had a bearish cross as it approached resistance so we can expect lower prices in the near future. However, this may be temporary. I see a completed inverse left shoulder and head. It is very plausible to think the price would fall to the orange support line before changing course and working its way back up to the neckline. If we complete this inverse head and shoulders, I could see the price rising to the red dotted line. The exciting thing from here is if we get to this point, we may have a similar setup to our previous inverse head and shoulders except this one would be much bigger! Judging from the head height, it would take us beyond the 14,000sat mark. But before we get ahead of ourselves, lets complete the inverse head and shoulders in blue.
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