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C_EWAVE13
Dec 20, 2021 6:13 PM

Is LINK back from death? ☠️ Long

BINANCE:LINKUSDT1W
ChainLink / TetherUSBinance

Description

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Hi everyone 👋🏽

🕊 Wish y'all have a profitable lifestyle 🍀

📌 LINKUSD- weekly Time Frame - Candlesticks

📌 W Pattern - Elliott Wave - Support Resistance zone - Double Bottom

📍 LINKUSDT is showing us some bullish signs after a very long boring correction moves

📍 We are in a very important support zone at the moment and I personally think that price is not going to break this level easily based on :

1- The double bottom pattern that chart has created

2- The possible W Pattern in weekly time frame

3- Fibonacci retracement 0.23%

📍 Chart has also created a very huge asymmetrical triangle (which is also a bullish sign)

⚠️ However, if the price does not hold this very important support zones we will see the 7.9$ - 8.45$ support zones

👉🏼 A very safe entry will be breaking the triangle:



⚠️ I do believe that we may see another retest of the current support zone after the retest of the triangle

👉🏼 Meaning that 27$-28$ price zones can be a big resistance level

📍 We do have a potential bullish RSI divergence in weekly and daily time frame which can be a confirmation of the W pattern.

📝 If you compare LINKUSD with BTCUSD during Feb - mid May you can figure out that LINK has done a better job, this time it may also happen.

THIS IS NOT A FINANCIAL ADVICE
PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION
GOOD LUCK
NP TRADER




Trade active

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I am still looking at this chart and hope it does not correct more than 50% of its previous candle

If it does I will wait for more confirmations!

Order cancelled

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BTC chart not looking so good so does the LINK chart

We have seen a slight bullish momentum till 28.6 from very top

It also have engulfed a lot of the previous candles before
Support and ResistanceDouble Top or BottomTriangleLINKUSDLINKUSDTlinkusdtlongcrypotradingBitcoin (Cryptocurrency)wpatternDouble BottomBullish Patterns
Comments
kandhway002subhash
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this is correct
C_EWAVE13
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@kandhway002subhash, Thanks for your comment...

I would like to hear your opinions
kandhway002subhash
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@C_EWAVE13, hi bro its great analysis after seeing all this stuffs i come to know that its proper planning only we can win trades ... me like sitting in front of system on weekend to prepare strategy.
C_trade1400
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What a pump! Do you still recommend this coin?
C_EWAVE13
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@C_trade1400, well I will rely on BTC chart along with this coin

Depends on how it will react to this correction.

If if does not correct more than the 50% of the previous wave I personally am in :)
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