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firmestudio
Sep 20, 2022 9:05 PM

LINKUSDT 2-top, H&S, Butterfly; pullback to neckline Short

ChainLink / TetherUSBinance

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LINKUSDT 2-top, H&S, Butterfly; pullback to neckline

After a retrace from the Stocks Market, LINKUSDT presents a perfect price action in bearish confluences after exit of a ascendent broadening bottom. We can see a Head and Shoulders in process now, exactly pull-backing to neckline, in a potential Double Top pattern. The prior swing before this pullback fitted 50% of a potential CD-leg of a Butterfly Harmonic Pattern. We can expect a 2nd downward from the neckline which is the weekly volume point of control (POC), strong resistance. A 1st short-term-target has been applied on an AB=CD projection. The 14.6% Fib level is my key level to put targets. Plus hidden bearish divergences on 1H chart w/ Ehlers Stochastic, Awesome Oscillator and Chaikin Money Flow. Definitely bearish.

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Djensboy
intresting, time for new update or remain the same?
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