Is LINK back from death? ☠️Hi everyone 👋🏽
🕊 Wish y'all have a profitable lifestyle 🍀
📌 LINKUSD- weekly Time Frame - Candlesticks
📌 W Pattern - Elliott Wave - Support Resistance zone - Double Bottom
📍 LINKUSDT is showing us some bullish signs after a very long boring correction moves
📍 We are in a very important support zone at the moment and I personally think that price is not going to break this level easily based on :
1- The double bottom pattern that chart has created
2- The possible W Pattern in weekly time frame
3- Fibonacci retracement 0.23%
📍 Chart has also created a very huge asymmetrical triangle (which is also a bullish sign)
⚠️ However, if the price does not hold this very important support zones we will see the 7.9$ - 8.45$ support zones
👉🏼 A very safe entry will be breaking the triangle:
⚠️ I do believe that we may see another retest of the current support zone after the retest of the triangle
👉🏼 Meaning that 27$-28$ price zones can be a big resistance level
📍 We do have a potential bullish RSI divergence in weekly and daily time frame which can be a confirmation of the W pattern.
📝 If you compare LINKUSD with BTCUSD during Feb - mid May you can figure out that LINK has done a better job, this time it may also happen.
THIS IS NOT A FINANCIAL ADVICE
PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION
GOOD LUCK
NP TRADER
