BTC is currently in a small selloff intraday due to the correlation to the Dow which will subside as market makers in the dow are trying to figure out how to handle the long call option gamma on individual stock issues.
This will likely subside as intraday DOW was down 400 pts and is now down only 280. Expect the bullish hammer candle on the previous 4H candle...
LINKUSDT is giving us a really nice pattern where we can look for both shorts and longs. For short, we are anticipating price to go down to the double bottom region atleast to complete the falling wedge pattern. For Longs, we're waiting for a break of the wedge pattern and we'll look to get in on the first correction.
KSM is in a bullish descending wedge structure on multiple timeframes and a breakout if it is to occur - which I have high confidence in considering BTC printed a 5D DragonFly Doji candle on June 10th and should last with bullish momentum for the next 3-6 5D candles.
The first target is the top of the wedge structure at $540. From here we will have to revisit...
Looking deeper into Fib waves
Don't focus on price direction, focus on similarities between price points within the same Fib ring E.g (1.618)
Based on 0.618 and the other Tops at 1.618 it is likely that Link will top at the next .618 period
Low TF long setup for LINK forming an ascending triangle after breakout of the parallel channel.
Best entries: 30.987 - 32.025
Max leverage: 3x
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
". There is a possibility of temporary retracement to the suggested support line (23.00).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
. LINKUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic...
The last time KSM produced this buy signal it moved nearly 1000% from ~$60 to $630 over 167 days. KSM is about to produce another Hash Ribbons Blue Circle Buy signal in the coming days and if we were to take the same prior period move and overlay that over today's prices KSM could potentially touch $6,400 / token over the next 167 days if history were to repeat by...
As long as BTC doesn't dump hard here KSM is in an excellent position if you haven't bought in yet or if you want to add to your positions... this is imho one of the more wildly undervalued projects in the entire crypto space along with PolkaDot (DOT).
KSM and DOT are essentially the same except KSM is 4x faster (and has 1/10th of the supply) in its relay chain...
KSM's price is printing a high low on Daily TF while the RSI is showing a lower low. We can now expect a new peak to be formed (yellow box)
The most ideal place where a hidden bullish divergence can occur is at the end of a downtrend which is exactly what has happened since the June 9th downtrend!
As long as BTC holds steady expect this to play out to the upside
We have very significant news to report today - as I'm sure most of you are aware but the Parachains Auction schedule has officially been announced as I said would happen by early June!
The first auction is set to receive bids on June 15th. The full auction schedule of the first 5 parachains is per below:
The schedule can be found right below:
The breakdown of the downward consolidation triangle in the BTC market certainly affected the entire crypto market. However, does this fact mean that a new wave of decline has begun and the cryptocurrency market is facing a new phase of depression?
Looking at the LINK price , we can see that buyers have managed to maintain the liquid range that we wrote about...
(Around june 2020, Chainlink joined the list of the top 100 tech-oriented companies by the World Economic Forum.)
We are looking at the 4 hour graph.
Memories of $40 - $50 in the collective consciousness.
FIB extension price targets:
$33,6 is easily reached.
Next target: $48
$19 is easily...
Adam & Eve Double Bottoms: Bull Market Results
Overall performance rank (1 is best): 17 out of 39
Break even failure rate: 12%
Average rise: 43%
Throwback rate: 67%
Percentage meeting price target: 69%
The double bottom confirms as a true double bottom once price closes above the peak between the two valleys. See the figure to the right. Without confirmation you...
ChainLink made a breakout from his long downtrend with the help of a triangle. Now after a retest of the breakout i expect big wins on Link.
Keep an eye on Link and have a good day.
Not a Financial Advice.
Could play out this way - DOT is currently in a descending wedge which is a reversal pattern and on the 1H timeframe is inside an Inverse H&S - which combined with the descending wedge means we should rise back to the previous local highs if everything plays out accordingly.