b_nelson

LINK Ascending Triangle

b_nelson Updated   
COINBASE:LINKUSD   Chainlink
LINK is currently 2/3 of the way through to completing an ascending triangle which began at the 1.97 high on 19 September. The break out will happen within the next 15 hours and if it breaks up, the target will be in the 2.00-2.04 range while a break out down could test support at 1.72 level which represents the 61.8% retracement from the 1.56-1.97 range.
Comment:
I incorrectly labelled this chart as an "ascending triangle" when it is quite clearly a descending triangle. The descending triangle pattern did play out to the downside and is currently sitting at 1.77 on its way to the 1.72 61.8% retracement support.
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