Once a coin breaks its previous ATH (as LINKUSD did recently) and enters 'price discovery mode', traders ride it all the way up, either hodl-ing or scalping (small time-frame swing trading), until price goes 'vertical' (parabolic) and market movers decide to take profits...
At that point we typically see a long wick, perhaps followed by an indecision candle (small body with long upper and lower wick). Followed by price decline.
Is that what LINKUSD looks like right now?
Definitely not.
At this point, we expect the stair step progress to continue with LINKUSD looking ready for another leg up.
At that point we typically see a long wick, perhaps followed by an indecision candle (small body with long upper and lower wick). Followed by price decline.
Is that what LINKUSD looks like right now?
Definitely not.
At this point, we expect the stair step progress to continue with LINKUSD looking ready for another leg up.
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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.