What a Ride this was! First lets look at some fundamentals that require us to assume a few things, before making trading decisions from here.
Lets look at what is happening in August:
Lets see what should guide us into the future of $50 1: Bull is still very much intact, something i will cover in September report. 2: Stay and trade within macro trend line. 3: Understand that: Bull markets have corrections. Bear markets have rallies.
Next, understanding - that in reality things don't go your way, so it pays to know what would happen if price decline and how to effectively trade in the near future. This way you can still remain bullish and make gains if need be.
I am not giving up on LINK just yet. I am sure it will surprise me - event again.
I am going to fight for that $50 day, but first we must break $20.
Also, Head and Shoulders failed to create a deeper lag down. So Lower Highs are still in affect.
Descending channel is expected after a rally and often most channels are broken bullish as long price is in the bullish macro trend, and we still are.
Previous fractal from $7 is still very possible so that would still be possible to have an entry on a new channel breakout.
We need to stay afloat above $14.30 to remain bullish.
__REVIEW__ ------------------------------------------------------------ Nailed! Ahh, i love it when it works out so flawlessly. If you look closely to the ETH pattern, it ended with one final big wave up, followed by sell off, and now we got a final run before the real bear market to hit LINK. So i am expecting it to be $50. Crazy right, but i bet that is how ETH felt or crazier when these prices were materializing even though ETH was just 7$ a few months ago, and then reaching 300$ must have been just unbelievable. ------------------------------------------------------------
**LEGENDS** BLUE = Bear/Resistance || Yellow = Bull/ Support Lines: Fractal dates are moments of interest, where price and time collide to create oscillation. the chart for possible scenarios of price actions - use zoom and scroll for better view.~
/*This information is not a recommendation to buy or sell. It is to be used for educational purposes only.*/
Feel free to request: your coin to be analyzed! Please keep those Stop losses in place or mind!
I wish you would do videos. The chart is just not getting your thoughts across. Too much for one screen. It's obvious you put a lot of effort and time. I would really enjoy hearing what you have to say and think.
Ajion
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@gz1968, thank you. I will definitively going to have to do that. I would break this chart into multiple timeframes this way it be a lot less busy, but then it double work and time is so precious these days. I promise, i will get videos going, perhaps they might speed up my ta as i won;t have to write as much and let my thoughts go wild!
ParabolicP
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Messy
Ajion
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@ParabolicPanic, true. Some charts of mine do get very messy.
ZENTINAL
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dude way too much crap on the chart, so hard to make sense
Ajion
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@ZENTINAL, zoom in, pan and A like it's the only way
Barrabert
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I just add, that LINK is a very important part of the future business ecosystem. The fundamentals are extremely strong, data is the key, I see no reason for a longtime price drop at all. Everybody, who can think want a piece of a LINK. And their token economy is really profit oriented.
Barrabert
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Fantastic work as always. I maximally appreciate, thank you and have a great day! 🙂