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You_and_I
Aug 10, 2020 5:33 PM

Bearish Divergence on LINK 1H chart, may retrace  Short

ChainLink / TetherUSBinance

Description

Hello Viewers.

LINK as we know has shown absolute bullish market for 3-4 days, however retracement may be possible as BEARISH Divergence appears on the RSi w.r.t Price action.
While Rsi holds 50 level, the entry is after the confirmation as it hits below 50 Level.
Possibilities are to hold 50 Fib Level, and then maybe bullish cycle starts after consolidating for a while.

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Comments
pegaz
hello,nice idea,now down or not....thank you
You_and_I
As discussed, on LTF price may retrace Fib-ratio to about 38-50. Possible entry for LONG is around 38 level and support of 100MA in blue.
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