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marshyyy
Oct 13, 2021 9:32 PM

LINK/USDT Next wave up? Long

Chainlink Perpetual FuturesFTX

Description

12H/4H charts

Link formed a symmetrical triangle on the 12H, broke out to the upside and rested the structure for a continuation. Reacted nicely into the 0.5-0.618 fib measure on the first breakout wave and tapping the daily demand zone and 12H demand from the initial move that created a Change of Character (CHoCH) in the market, meaning a change of trend forming new higher highs and higher lows.

Momentum on MACD looks good with for a continuation and could expect to see price head towards the last high and into the 1.272 fib.
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