Hi, there are 2 high probable scenarios for link.
BULLISH (GREEN) SCENARIO:
If link falls below that lower green line (today it is at 10,9 usd) than from the bottom (7,2 usd) it will look like LEADING DIAGONAL.. Leading diagonal occur in wave 1 of a regular five wave impuls (very very bullish) or in position of wave A of simple zigzag (it comes fine with my primary count that link is in B wave of large wave 4 triangle. I would prefer link to fall to or little bellow green wave 4 (cca 9,70-9,50 usd).
BEARISH (RED) SCENARIO:
If link bounces from this level 11,-11 usd and make new high at cca 13,5-14 usd that would make me conclude that link is finishing ENDING DIAGONAL. Ending diagonal occur at fifth wave of an impuls (not here the case) or C wave of zig-zag and here that could be case if link soon (above 11) find support and make new high.
There are some other counts link is extending in 3th wave (very bullish, not bad chances) or link finished C wave of some running flat (9,3-13,3 usd abc up, 13,3-7,3 abc down, 7,3-13 usd 12345 up but that is not likely (very rare and on border of legitimes).
So, i will short if it goes to 14, reload if it goes to 9. Cheers!
BULLISH (GREEN) SCENARIO:
If link falls below that lower green line (today it is at 10,9 usd) than from the bottom (7,2 usd) it will look like LEADING DIAGONAL.. Leading diagonal occur in wave 1 of a regular five wave impuls (very very bullish) or in position of wave A of simple zigzag (it comes fine with my primary count that link is in B wave of large wave 4 triangle. I would prefer link to fall to or little bellow green wave 4 (cca 9,70-9,50 usd).
BEARISH (RED) SCENARIO:
If link bounces from this level 11,-11 usd and make new high at cca 13,5-14 usd that would make me conclude that link is finishing ENDING DIAGONAL. Ending diagonal occur at fifth wave of an impuls (not here the case) or C wave of zig-zag and here that could be case if link soon (above 11) find support and make new high.
There are some other counts link is extending in 3th wave (very bullish, not bad chances) or link finished C wave of some running flat (9,3-13,3 usd abc up, 13,3-7,3 abc down, 7,3-13 usd 12345 up but that is not likely (very rare and on border of legitimes).
So, i will short if it goes to 14, reload if it goes to 9. Cheers!
Comment:
* if link bounces from this level 11,5-11 usd and make new high
Comment:
I dont think red scenario is on the play....this up waves seem to be impulsive (if we look on smaller time frame) and ending diagonal is subdivided in 3-3-3-3-3 so that cant be the case.
So most possible will drop to cca 10 and then will rise in wave C or 3... C would fit in my primary view that link is in large triangle
It s still open one ultra bullish count that link is already in wave 3
So most possible will drop to cca 10 and then will rise in wave C or 3... C would fit in my primary view that link is in large triangle
It s still open one ultra bullish count that link is already in wave 3