LINK WEEKLY : 12/12/20 See how this goes...
LINK WEEKLY : 12/12/20
See how this goes...
Technical' s
15M: V. Bullish
1HR: V. Bullish
4HR: Neutral
Daily: Bearish
Weekly: Bearish
Monthly: Bullish
Overall: Bullish
Buy/Sell Wall:
Sells
$14 - $2Million Expect a sharp rejection here
Buys
Scarily thin
Volatility: Steady downward channel - 4% rise in past 24 hours
Local Support: $11.21
Next Support: $9.73
Local Resistance: $12.83
Next Resistance: $13.54
Fundamentals:
- Chainlink posts first "DeathCross" with BTC pairing since 2018 - Bearish
- Chainlink Oracles go live on Binance Smart Chain - Bullish
Personal Opinion:
Little experience in LINK but here goes - pretty light on fundamentals but the headlines about a "Deathcross" for a lot of Armchair traders will be bearish although it has been forming a descending wedge /channel which has bounced off key support well along with a 4hr RSI divergence.
Currently trying to break trend line possible rejection although a further bounce should break it - after that it looks like a steady climb with some major sells set up at $14, defintiely bullish short term.
See how this goes...
Technical' s
15M: V. Bullish
1HR: V. Bullish
4HR: Neutral
Daily: Bearish
Weekly: Bearish
Monthly: Bullish
Overall: Bullish
Buy/Sell Wall:
Sells
$14 - $2Million Expect a sharp rejection here
Buys
Scarily thin
Volatility: Steady downward channel - 4% rise in past 24 hours
Local Support: $11.21
Next Support: $9.73
Local Resistance: $12.83
Next Resistance: $13.54
Fundamentals:
- Chainlink posts first "DeathCross" with BTC pairing since 2018 - Bearish
- Chainlink Oracles go live on Binance Smart Chain - Bullish
Personal Opinion:
Little experience in LINK but here goes - pretty light on fundamentals but the headlines about a "Deathcross" for a lot of Armchair traders will be bearish although it has been forming a descending wedge /channel which has bounced off key support well along with a 4hr RSI divergence.
Currently trying to break trend line possible rejection although a further bounce should break it - after that it looks like a steady climb with some major sells set up at $14, defintiely bullish short term.
