LINKUSD, Trading In The Channel-Formation, Next Waves In Sight!

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at LINKUSD 4-hour timeframe perspective, the recent events, the current formational structure, what we can expect the next times and how to possibly handle the upcoming situations appropriately. On the higher timeframes, LINKUSD has managed to form the breakout above the upper boundary of its ascending-channel-formation properly where it has now shown several impulses to the upside forming into a very interesting formation which will determine the next outcomes in an important and meaningful manner, currently, the bearish perspective should not be kept by side there are however some signs at the horizon from which LINKUSD can back-up and move above the upper resistance sustainably, therefore, I detected all the important levels and likely scenarios we should consider at the moment.

As you can watch when looking at my chart LINKUSD is trading in this huge ascending-channel-formation where it is also forming the coherent wave-count within, the wave A-C already established and now LINKUSD is building the wave D in the structure which is leading into the back-up-cluster marked in my chart in blue where LINKUSD has several supports lying from where it can back-up consisting of the lower boundary of the channel, the 400-EMA in red and also horizontal support lying there, this zone can be the solid origin of the final wave E which will lead to test the upper resistance levels as these are marked in my chart with the resistance-cluster between 13.8 and 14.2 where LINKUSD is firstly likely to produce a pullback to lower levels in the structure.

When LINKUSD confirms the upper resistance-cluster properly and shows a pullback it will be a determining and important question if this pullback is strong enough and bearishness increases to confirm the ascending-channel-formation as a bear-flag or not, this can possibly invalidate when LINKUSD manages to stabilize within the channel and form a wave-count within to back-up and increase in bullish pace, otherwise when this does not happen and bullishness decreases then when LINKUSD moves below the lower boundary with a decisive move and closes there it can confirm the whole structure as a bear-flag, overall the bearish side should not be kept by side currently and it will be highly important how it continues within the certain levels and price-action.

In this manner, thank you everybody for watching, have a good day as well as good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.