TradingView
Ryecatcher
Feb 5, 2021 3:58 AM

IH&S forming on Link, ATH incoming! Long

Chainlink / U. S. DollarKraken

Description

Inverse head & shoulder forming on the hourly.

On the 4hr a ascending triangle has formed.

This couldn't be anymore bullish, breakout of the inverse head & shoulder will bring us to $28 this will coincide perfectly with the break out of the ascending triangle with a target of around $32.

I'll wait for the confirmation on the 1hr close.

Comments
ajshala1
Hi there ty for the analysis, it seems as though the initial breakout was false do you still think the next breakout will be upwards? The rising support line seems to be just about holding on the 4 hourly, on the hourly its gone past it a few times. Would love to hear what u think
Ryecatcher
Hi, my pleasure. I think we see a dip on the markets most alts have gone up 20-40% in the last 3 days. link is no different.
Strong support lines for link and those opportunities should be bought imo.
The next break out will bring us ATH, patience game.
More