Link is in an uptrend since its low on 24 September where it evolves in a channel and prints higher lows after high lows.
After testing the bottom of the channel at approximately 11.35$ several times the past few days, LINK is now testing the median of the channel at 13.50$. If it surpasses it, hold above and close on the 4H chart, we can expect a test of the 50% Fibo (13.73$), then the daily pivot at 14.03$. From there I would expect a cool down with a retest of the median to potentially get a RS flip and get more upside.
If you like this idea, let me know and I'll try to keep posting :)
After testing the bottom of the channel at approximately 11.35$ several times the past few days, LINK is now testing the median of the channel at 13.50$. If it surpasses it, hold above and close on the 4H chart, we can expect a test of the 50% Fibo (13.73$), then the daily pivot at 14.03$. From there I would expect a cool down with a retest of the median to potentially get a RS flip and get more upside.
If you like this idea, let me know and I'll try to keep posting :)
Comment:
We are still trying to pass the median, but so far, we keep being rejected.Note that the median is in confluence with the medium EMA. Tomorrow the daily pivot will be updated. I expect the pivot to be around the current S1 so we might go down to test it before going higher up.
Comment:
The new pivot was not where I expected to be, but that's ok haha. It seems like it is being tested right now, and we have the channel median almost in confluence for a second layer of support. We will need a candle close to validate a RS flip.
If this is the case, we can expect more upside with our next target being the golden pocket of the whole move down of last week, which is located between 14.45$ and 14.65$. Be aware that the golden pocket was already almost hit and it brought us down by ~0.60$ so this is really a major target to overtake for the bulls. This is more visible on the daily.
On the down side, the 38.20% Fibo (13.20$) should act as a first support, then the daily R1 at 12.68$.
If this is the case, we can expect more upside with our next target being the golden pocket of the whole move down of last week, which is located between 14.45$ and 14.65$. Be aware that the golden pocket was already almost hit and it brought us down by ~0.60$ so this is really a major target to overtake for the bulls. This is more visible on the daily.
On the down side, the 38.20% Fibo (13.20$) should act as a first support, then the daily R1 at 12.68$.
Comment:
We closed above the daily pivot on the 4 hours. We retested the pivot again in the new 4H candle. If we close above a second time I would expect a new retest of the 14.45$ area (close to the golden pocket). Possibility to retest it already within the current 4H candle.
Comment:
I did not notice that before, but if we close above that candle, we would also be printing a consequent higher high. This is also a reason why we struggle to pass the 14.25$ area.
Trade closed: target reached:
We reached the target. Now being slightly rejected from the golden pocket.
If you want more updates let me know in the comments. Thanks!
If you want more updates let me know in the comments. Thanks!
