LINKBTC: Inverse Scale to Flip the Perspective. 70k Pipe Dream?
Updated
*Not financial advice. Not a recommendation to buy or sell.*
Let's flip the perspective on the LINK/BTC chart for a moment. Downwards trend looks likely to continue. Ignore market cap for a second and only examine the trend. Would you short a coin with this chart? A bet on 1yr+ trend continuation?
December 2019. In harmony with my speculations for bitcoin. Can it be true?
ROC:
Rate of Change is decelerating rapidly while continuing to the downside and at a common reversal percentage.. This is likely the peak for shorters.
Volume:
Despite significant outflow as pointed to in my OBV analysis below, smoothed trading volume continues to look strong for LINK/BTC.
Let's flip the perspective on the LINK/BTC chart for a moment. Downwards trend looks likely to continue. Ignore market cap for a second and only examine the trend. Would you short a coin with this chart? A bet on 1yr+ trend continuation?
December 2019. In harmony with my speculations for bitcoin. Can it be true?
ROC:
Rate of Change is decelerating rapidly while continuing to the downside and at a common reversal percentage.. This is likely the peak for shorters.
Volume:
Despite significant outflow as pointed to in my OBV analysis below, smoothed trading volume continues to look strong for LINK/BTC.
Note
Price is steadily nearing the immediate target. Will update indicators and outlook around there if reached.Note
Beware of the small anticipated retrace happening sooner than expected here. BTCUSD appears to be heating up again. Stop losses are key here.Note
Price is rising, but beware of a potential retrace. All depends on FA at this point, wish you all luck.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.