Hello traders 🐺 .
In today's idea , I want to talk about LINK , as you may know LINK is one of the most popular coins in the crypto market and usually finding interesting patterns in such these coins is very attractive 🔥 .
As usual let me to start with the weekly chart , before going to the chart I want to mention that , this a mid term trade so make sure to consider this trade as a mid term or long term trade :
In the chart above we can see that price is in the very clear falling wedge pattern which is a bullish pattern and also price is already above the very strong support trend line , so when you gather all of this information's you will find out that the trend change is very close for LINK price , but what is the price target of this falling wedge ?
As you know , the technical target of the falling wedge pattern is the top of the wedge , and if you look at the Fibonacci level's you can see that the next level of resistance is near to the daily resistance box ( daily blue structure ) around 0.618 Fibonacci golden ratio .
let's have quick look to the RSI and MACD :
As you can see RSI is around the oversold territory and we have a very clear downward trend line in the RSI and up to now RSI try to break above it so we have multiple touch point on this resistance line so we can say that this is valid resistance line so if price break above it , we could see a nice pump in the price .
In the MACD we can see that , MACD signal line is about to flash and this is a very good sign for the LINK so it's seems that price is about to do pump very soon 🚀💰 .
Thank you guys for reading my idea , also don't forgot to like my idea and share my ideas among your friends and if you are interested in my ideas , follow me for more support 🐺🙏 .
In today's idea , I want to talk about LINK , as you may know LINK is one of the most popular coins in the crypto market and usually finding interesting patterns in such these coins is very attractive 🔥 .
As usual let me to start with the weekly chart , before going to the chart I want to mention that , this a mid term trade so make sure to consider this trade as a mid term or long term trade :
In the chart above we can see that price is in the very clear falling wedge pattern which is a bullish pattern and also price is already above the very strong support trend line , so when you gather all of this information's you will find out that the trend change is very close for LINK price , but what is the price target of this falling wedge ?
As you know , the technical target of the falling wedge pattern is the top of the wedge , and if you look at the Fibonacci level's you can see that the next level of resistance is near to the daily resistance box ( daily blue structure ) around 0.618 Fibonacci golden ratio .
let's have quick look to the RSI and MACD :
As you can see RSI is around the oversold territory and we have a very clear downward trend line in the RSI and up to now RSI try to break above it so we have multiple touch point on this resistance line so we can say that this is valid resistance line so if price break above it , we could see a nice pump in the price .
In the MACD we can see that , MACD signal line is about to flash and this is a very good sign for the LINK so it's seems that price is about to do pump very soon 🚀💰 .
Thank you guys for reading my idea , also don't forgot to like my idea and share my ideas among your friends and if you are interested in my ideas , follow me for more support 🐺🙏 .