EuroMotif

LINK.USD near term Targets and Strength gauge: Correction Done?

BINANCE:LINKUSDT   ChainLink / TetherUS
As you know, LINK has been one of the strongest assets lately.
The "crash" in Bitcoin today had very little effect on ChainLink.
If anything, it may have helped finish the "Wave C" of correction.

Now we have several Resistance zones to watch.
Surely one of them will cause a retrace of bounce.
Which one we reach, and how we react are the keys.

$ 2.60xx is immediate resistance, should break.
$ 2.64xx - 2.66xx will be likely end of first wave.
$ 2.070x - 2.071x would be "Very Strong" bounce.

Previous LINK analysis:
LINK Support/Bounce zones (caught recent bottom)
LINK Breakout Zones plot (caught the breakout)
LINK May 2019 support zones (caught all turns)
LINK $1.46 Bottom Call (caught exact bottom)

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See some of my other plots and trade calls below.
I also plot Forex and Stocks, take a look at my profile page.
BAT top call (perfect timing)
EOS top Call (near perfect plot)
LTC to $150 call (near perfect plot)
BTC $14k call (Near Perfect target, easy trade)
ETH breakout (instant Profits, no drawdown)
BTC bottom 3.1k (caught the EXACT bottom)
ADA breakout (PERFECT targets, massive profits)
ZRX bottom call(200% gain, Perfect target)
ZRX breakout (massive Profits, short wait)
XLM breakout (massive Profits, instant Win)
RVN top call (Perfect Target, take profits)
MATIC top Warning (caught the EXACT top)
MATIC rocket (massive Profits, breakout entry)
NEO Rocket Launch (great entry, massive profits)
FET top warning (EXACTLY on time)
DASH top warning (EXACTLY on time)

Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
Comment: Got a reaction at 1st resistance then retested and looks to keep going.

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Comment: Another zone, another reaction as long it does not go back below previous zone, bulls are looking good.

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Comment: The pullback from first target went a little deeper than I would have liked to see But, it is still following the Ripples that are pushing upwards. On the other hand, this bounce looks more corrective than Impulsive, so we may not have found bottom yet....

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Comment: Pullback continues. Now need to hold the 2.236 at $2.5144 Most waves with a 4.236 top (like this one) retrace to the 2.236.

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Comment: Just pierced the 2nd resistance zone perhaps a retest of that zone then we should be able to make the jump to $2.7xxx
Comment: 3rd target hit, and reacting to it now
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Comment: So it looks like the 3rd target was the top Seems to have double topped there and retracing.
I have added a Red fib series of the drop just now.
I am exepecting a substantial retrace now, at least to the $2.5xxx level where we have a confluence of two improtant fibs.

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Comments

If BTC loses another $500-$1000, then I'm afraid the Alts will also get hit, including Link.
Reply
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