BINANCE:LINKUSD ChainLink / US Dollar (calculated by TradingView)
Another coin that i am looking to add more of is my favorite project.. Chainlink, we are coming down towards our 0.2 FIB level and we are given the chance to get a bounce here. We have tons of support underneath of our price action with uptrend support coming in from our previous low, support at our current spot of 24.31$, 20.67$ support and we have strong support coming from the 0.2 FIB level. Looking at the we have more support coming in from our midline, we are currently sitting right above this point and it is important that we hold above and close above to keep this level as support. Also being above this level enables us to make a run for that top , and as you all know if we can successfully make the run up to there and close ontop of this band we could be looking at a fast sharp move to the upside, more often than not closing ontop of this band triggers that big move to the upside! Now the isn't looking super great we just had a cross, this isn't 100% confirmed yet as price action could begin to push up and cause another cross, or we could see a short cross with a reversal following soon after. What we don't want to see is a strong move from the MA's pointing down and separating, separation in the MA's makes it harder to trigger a cross, when the ma's are compressed together one day of green price action can trigger a cross, same thing applies when looking at the upside. Another thing we don't want to see is the histogram start to make significantly bigger red bars day after day, this shows an increase in the momentum and can really accelerate the further we move into the cycle. Next very important we have the , reason of why this is important is due to the being directly on the midline, if we can see a bounce here and reversal back upwards we are looking at a very plausible confirmed uptrend and thats exactly what we want, if we break below here and get stuck unable to regain above here we are looking at a confirmed downtrend, so we gotta wait for our daily close tonight before we can confirm anything! Not financial advice just my opinion!