LINKUSDT Key Pivot Point|Structural Resistance|Blue Sky Breakout
Evening Traders,
Today’s Analysis – LINKUSDT – trading at a key structure, breaking above current resistance will initiate a blue sky breakout.
Points to consider,
- Strong bull impulses
- 21 MA visual support
- Major structural resistance
- RSI not officially oversold
- Volume overall declining
LINKS immediate trend is impulsive; trading at a key structure where breaking out will put in a higher high.
The 21 MA has been supporting price, acting as a clear visual support, multiple candle closes below will be bearish.
Price is currently trading at a major structural resistance zone. How price action forms here will be indicative of the trends direction.
The 1.272 Fibonacci Extension is in confluence with structural resistance, a clear break above will be very bullish, as this shows price strength.
The RSI is not officially overbought, whilst the stochastic is still projecting up, this in an indication of further upside before being overextended.
Volume profile is still generally declining; price breaking in either direction from this resistance cluster needs to be backed with volume to avoid any fake outs.
Overall, in my opinion, the price of LINKUSDT is at a key structure. Breaking above will establish a blue sky breakout (price discovery), Fibonacci extensions will be targets.
Breaking bellow will further solidify the significance of the structural resistance level, local support will then be the immediate target.
What are your thoughts?
Thank you for following my work !
And remember,
“If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite
Today’s Analysis – LINKUSDT – trading at a key structure, breaking above current resistance will initiate a blue sky breakout.
Points to consider,
- Strong bull impulses
- 21 MA visual support
- Major structural resistance
- RSI not officially oversold
- Volume overall declining
LINKS immediate trend is impulsive; trading at a key structure where breaking out will put in a higher high.
The 21 MA has been supporting price, acting as a clear visual support, multiple candle closes below will be bearish.
Price is currently trading at a major structural resistance zone. How price action forms here will be indicative of the trends direction.
The 1.272 Fibonacci Extension is in confluence with structural resistance, a clear break above will be very bullish, as this shows price strength.
The RSI is not officially overbought, whilst the stochastic is still projecting up, this in an indication of further upside before being overextended.
Volume profile is still generally declining; price breaking in either direction from this resistance cluster needs to be backed with volume to avoid any fake outs.
Overall, in my opinion, the price of LINKUSDT is at a key structure. Breaking above will establish a blue sky breakout (price discovery), Fibonacci extensions will be targets.
Breaking bellow will further solidify the significance of the structural resistance level, local support will then be the immediate target.
What are your thoughts?
Thank you for following my work !
And remember,
“If you don’t respect risk, eventually they’ll carry you out.” – Larry Hite