JacobR905

Link Inverse Head & Shoulders!

Long
COINBASE:LINKUSD   LINK/USD
Chainlink is looking great on the 4 HR timeframe and has created an inverse head and shoulders pattern aswell as coming upto the apex point this wedge! This pattern is very bullish and we can expect over the next few days some really nice movement upwards, keep in mind BTC will drag down or push up the market in most cases. We are holding up on this triangular support and i expect price action for the most part to respect this pattern and stick to the support. We could see a break of the 0.5 Fib level, as we have tested it multiple times before. Also we could see a drop to the 0.6 Fib and then see a bounce up but i don't think that is as likely. The RSI bounced off the 50. point line and is now starting to curl back up! We need to see a full break of this level then we can expect very bullish movement with a confirmed uptrend! We see the red MACD lead curling downwards but the blue and orange MA's still arent crossing bearish but that could happen and that ties in with the falling to the 0.6 FIB. We did see a close call with them almost flipping, but held strong and continued up. Overall in the near future im very bullish on the whole market but especially chainlink, ETH and DEFI. Not financial advice just my opinion

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