Welcome to this analysis where we are looking at the LINKUSD perspective, the recent events, the current formational structure, what we can expect the next times and how possible outcomes and destinations can look like. As mentioned previously already LINKUSD has completed the descending-channel-formation which was the origin of a wave-count to the upside where LINKUSD has formed besides that two major formations which will be the determining force in this structure when the formation confirms properly there can come some very good potentials further, therefore I detected all the important levels and possible outcomes we should consider at the moment.
Looking at my chart you can watch LINKUSD trading within this massive ascending-channel-formation in which it established the wave-count to the upside, besides this major formation LINKUSD is also forming a likely inverse head-and-shoulder-formation here marked in orange within my chart, this formation can confirm when LINKUSD manages to bounce with a solid volatile move to the upside from the lower boundary and finally moves above the neckline with a decisive move, here it is really important that the bounce from the lower boundary shows up strong enough and that LINKUSD do not falls below the boundary again because this can possibly invalidate the continuations.
When LINKUSD manages to form the breakout above neckline properly and therefore completes the inverse head-and-shoulder formation this will be the origin for the major wave C of the whole wave-count LINKUSD is forming which will lead into the upper boundary and from there form the wave D testing the lower boundary again, this then leads to the final wave E emerging. Overall it will be two possible short-opportunities upcoming as it is marked in my chart and when LINKUSD has reached the middle-term-target this can be the origin for the final short determining below the lower boundary from where LINKUSD has to show how it establishes further from there.
In this manner, thank you everybody for watching, have a good day as well as good trading, all the best!
“Prospect is the ingredient of good fortune.”
Information provided is only educational and should not be used to take action in the market.