$LINK: Technical Analysis, almost at a good buy price
Hey linkies! Don't underestimate the power of positive thought. Here is some technical analysis from a noob like me. Here is some of my projections for our beloved coin. This is taken from looking at the daily chart which is I believe as good as looking at the 4 hour chart.
Here is my take on why I think that chainlink will go bull in the short future.
1. We are nearing the point when LINK will hit 0.786 fib. The fib taken from the all time low to the january high. There is a huge probability that it will bounce from there.
2. The RSI histogram shows a very interesting patterns. A series of higher lows that follows a trendline, this signifies that the selling pressure is almost gone and it is almost time to buy. I believe that it going up is inevitable.
3. You can also find a minor support area in that zone. Which I have lined in green.
Now, for the targets, I believe they speak for themselves, however, you might want to target a safe 10% or the 0.5 ratio if you really want to be in the safe side of the trade once it touches that 0.786 fib.
I'll update this idea once I bought. I would say I am pretty confident in this trade.
Here is my take on why I think that chainlink will go bull in the short future.
1. We are nearing the point when LINK will hit 0.786 fib. The fib taken from the all time low to the january high. There is a huge probability that it will bounce from there.
2. The RSI histogram shows a very interesting patterns. A series of higher lows that follows a trendline, this signifies that the selling pressure is almost gone and it is almost time to buy. I believe that it going up is inevitable.
3. You can also find a minor support area in that zone. Which I have lined in green.
Now, for the targets, I believe they speak for themselves, however, you might want to target a safe 10% or the 0.5 ratio if you really want to be in the safe side of the trade once it touches that 0.786 fib.
I'll update this idea once I bought. I would say I am pretty confident in this trade.
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