#LINK
The price is moving in a perfectly symmetrical descending triangle
It was broken higher and the moving average 100 broke
Current price 14.90
The first goal is 15.95
Second goal 16.28
Third goal 17.53
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Chainlink has been having very steep downward movement, touching that 100 EMA line while also breaking the supportive zone.
We are looking for a price to secure this zone fully and move towards 200 EMA, so let's see.
Swallow Team
On the above weekly chart price action has rallied 300% from the lows. A number of reasons now exist to exit long positions. They include:
1) Support and resistance. Ever since price action broke market structure (look left) price action has been in a downtrend. At this time price action climbs to the broken structure area and finds resistance.
2) A weekly...
After rejecting the key daily resistance zone of $22.10-$23.09, Chainlink found a support at $19.56 that I expect to hold.
A bullish reversal from the current price location or after a re-test of $19.56 will result in a bullish move to re-test $22.10-$23.09.
A bearish break-out of $19.56, the key daily support, will push LINK price towards the next support...
If you haven`t bought the dip on LINK:
Then using the Fibonacci Retracement tool, I believe there will be a new buy opportunity in the $17 - $18 range!
Treating this as a tweezer top. Confirmed up trend with a textbook harami cross as a tweezer top. Trend was definitely slowing down and should have told us the future was a little muddy. Retest of 16.5 is my target here.
Watching for evidences for a deep retracement as 5 waves up ended 22.90.
Link may start a deep retracement wave 2.
RSI divergence may signal wave 5 finished 22.90.
Possible target 0.382 fib retracement for wave 2 where we have also wave 4 retracement.
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Hello Birdies,
Found another interesting play on link. It can go either way
Steps
We already have an internal BOS price can move up from here and than go short.
Our Fib Chart showing support right now. Extreme for that move is at 23.46
Rest of the chart is pretty simple
wait for BOS and retracement and than go
Litecoin has had a nice breakout from that sideways zone, which recently got tested alongside 100EMA.
We are not looking for a potential movement beyond that same broken zone (one more time) from where we will get more clarity for potential further movement.
What do you think we will see: plan A or plan B?
Swallow Team
LINK is lining up for a megaphone pattern. This pattern is not bullish or bearish but indicates a large move to come. I believe with the market sentiment, it's very possible we break up and out of this pattern, and historically, this would tell us that we are going to at least $30 , probably around $31.5 to be exact.
This would be a ~35% spot gain . I am...
Three bullish waves completed
The ceiling of $22 has been seen and the liquidity has been taken above the resistance of 21. Now it is time to move to order lower blocks.
