Historicaly Chainlink always retraced (retested) to the prior breakout point wich is roughly low 4s .
In addition, if we study the weekly chart ,link always found bottom in the red box on RSI while price went under the yellow 21 weekly EMA . The retrace under the EMA was historically anywhere between 20 to (!) 66%!!
Currently price is resting on the red box on RSI and exactly on the 21 weekly EMA . So in that regard,if price wont find support here, theres definetly a 20-30% more dump in the air at some point .
I have resting buy orders in high and low 6`s ,three buy orders in the 5`s and one in the high 4s just in case . I think this is going down . First might go a little up then down or str8 down .Exercise extreme caution!
In addition, if we study the weekly chart ,link always found bottom in the red box on RSI while price went under the yellow 21 weekly EMA . The retrace under the EMA was historically anywhere between 20 to (!) 66%!!
Currently price is resting on the red box on RSI and exactly on the 21 weekly EMA . So in that regard,if price wont find support here, theres definetly a 20-30% more dump in the air at some point .
I have resting buy orders in high and low 6`s ,three buy orders in the 5`s and one in the high 4s just in case . I think this is going down . First might go a little up then down or str8 down .Exercise extreme caution!