Link is in full FOMO mode, and may continue to see higher gains in the short term. I believe a massive pullback is coming soon.
Why - quite simple -- look at volume here on the monthly. Price is rising hard while volume is falling hard
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Here's a related idea, why i think this is possible:
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Updated line chart variation with potential Elliot Wave pattern as: 5-wave bull trend ending, followed by ABC wave correction down to 0.5 fib and then down below .618:
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As you can see on the volume profile for the monthly (on the right side), most of the volume starts in the buy back zone, yet the highest volume is still near all-time lows. And, we still show declining volume on the chart (on the bottom).
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Volume is going back up, this thing may continue to rise.
Nothing is ever certain, just throwing an idea out there, likely unpopular atm haha, thanks so much for checking it out, and please let me know what you think if you have another idea
boeing787
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@dudebruhwhoa, i am not trader man, i am just holding link and trying to think what to do, so i have no other idea...but apparently no one is talking about pullback,just small corrections like 10%
dudebruhwhoa
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@boeing787 I’m not a pro trader either, I’m in the process of learning here as much as I can so I can try to become one. And, I could totally be wrong
boeing787
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@dudebruhwhoa, i see, but why do you expect the correction so low?
dudebruhwhoa
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@boeing787, its really just a guess, but because price has gone up for so long w/out correction on the monthly, profit takers can take profits for a long way down before even getting close to breaking even. Edit: Also chose the .618 fib instead of the 50% because of the above -- and, if you look at the regression trend (the rectangle with the green and red) - i guessed around the bottom of that as well, both line up with each other to some extent