In a recent article on Loopring (LRCBTC), I mention the 0.618 Fib. retracement support. (You can find this article by visiting my profile and searching for LRCBTC)
Here we have ChainLink (LINKBTC) bouncing off this exact same level, on a bullish cycle, which can signal that the retrace is over and this pair can continue to grow.
EMA50 has been tested as support and held strong.
Additional bullish action is possible.
Support and resistance levels based on Fibonacci proportions are marked on the chart.
The bulls have the upper hand.
Conditions for change We look at lower prices only if LINKBTC move and closes below EMA50.
Any trading above EMA50 and we remain strongly bullish on this altcoin pair.
Thanks a lot for reading.
Namaste.
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New high for ChainLink... it just keeps on growing.