Reversal is forming
Hi everyone, we have had great bull runs with BTC and ETH. Recently, BTC have been going sideway with decreasing volume and ETH is near a big resistance at its ATH. When it happens, usually it's worthing to take a look to other projects. LINKBTC is one of those that I am watching closely.
No one can deny that this is a great project and it will keep up BTC at some point. As you can see on the chart, there is a forming reverse head-and-shoulders pattern (not confirmed yet). Flipping 49k SATs to confirm this pattern will take it to at least around 60500 SATs where a clear resistance stands (descending trend line as well as horizontal resistance).
Fibonacci levels indicate potential targets
Note: if you like this content, don't forget to give it a like and follow me for upcoming analysis.
No one can deny that this is a great project and it will keep up BTC at some point. As you can see on the chart, there is a forming reverse head-and-shoulders pattern (not confirmed yet). Flipping 49k SATs to confirm this pattern will take it to at least around 60500 SATs where a clear resistance stands (descending trend line as well as horizontal resistance).
- Flip 49k SATs: reversal confirmed, target 60500
- Flip 60500 and break the descending line: downtrend is over. The party begins
Fibonacci levels indicate potential targets
Note: if you like this content, don't forget to give it a like and follow me for upcoming analysis.
Note
It is also important to note that there is a confirmed bullish divergence on daily timeframe so it enforces the hypothesis
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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.
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.