in this idea I wanna update you my friends about the LINK so make sure to stick with me until the very end and make sure to follow me and like my ideas for support me also you can take advantage of my future ideas and market updates .
if you remember me last idea about LINK you must know that the LINK price is showing strength against BTC , this is very important for us guys because if one coin showing strength against BTC and also have good situation against USD , that could be a very interesting opportunity for buy some cheap coin , I think this situation already is very probable for LINK price to happen in the very near future , but why ?🤔
ok first of all let's start with the LINK/BTC chart :
LINK/BTC was break out from the descending trend line and now trying to retest it as new support this is good news for the LINK/BTC , but unfortunately LINK/BTC comes down because of the lack of the volume at the break out point from the descending trend line ; also if you look at the RSI value you can see that RSI currently retesting the resistance line . up to now , LINK/BTC hold above the previous low and also trade above the weekly support structure , all of this are seems good for the LINK/BTC , and this is reason why I think LINK/BTC looks bullish .
now it's time to look at the LINK/USDT chart :
as you can see in the chart above , LINK created a descending triangle and as you know descending triangle is a bearish pattern , also currently inside of this triangle LINK created a descending channel and now trading inside of this channel , but what I think that LINK is looking bullish ? let's explain it for you my dear followers :
in the chart above you can see that currently LINK testing the weekly support structure , also the more important point is that LINK created a very clear and beautiful bullish divergence , which means that in the RSI , RSI value created HH and HL but in the price we have LH and LL ; this what we count as bullish divergence , this is an important point because if price testing a support with bearish divergence , there is strong chance for breaking below the support , but when like current situation , have a bullish divergence , we can conclude that the there is strong possibility for price to reverse from the current level . but if LINK break below the weekly structure and close a weekly candle below the support with the high amount of volume , this bullish divergence will fail and we can expect lower price targets for the LINK .
let's talk about the 4H chart :
in the 4H chart LINK created a ascending triangle which is also a bullish pattern , so in my opinion all of this signs are enoughly bullish for me to buy some cheap LINKs but make sure to follow your trading rules and strategy .