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Good morning Everyone -
I wanted to offer a different perspective this week for LINK against the USD.
I rarely use Fib Circles because you can easily create any confirmation bias you want as the circle can be manipulated how you see it. I am generally not a fan of these styles of indicators.
That said, I went ahead and applied a Fib Circle that covers the massive breakout we saw from $6 to $8.90 and back down again to major local support.
If we can Ryan Seacrest back up past $7.50 and lock in 2 consecutive 1D closes above, then we should be forging to $10 in the near future (4 to 5 weeks maximum).
We saw a lot of buy in and minimal sell-side pressure when we blew past $7. The bulls are still in control here.
I wanted to offer a different perspective this week for LINK against the USD.
I rarely use Fib Circles because you can easily create any confirmation bias you want as the circle can be manipulated how you see it. I am generally not a fan of these styles of indicators.
That said, I went ahead and applied a Fib Circle that covers the massive breakout we saw from $6 to $8.90 and back down again to major local support.
If we can Ryan Seacrest back up past $7.50 and lock in 2 consecutive 1D closes above, then we should be forging to $10 in the near future (4 to 5 weeks maximum).
We saw a lot of buy in and minimal sell-side pressure when we blew past $7. The bulls are still in control here.
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