LINK bull-run has started – going towards the 'decade'-VWAP level to consolidate – followed by breaking out of a bullish closing wedge (yet to happen). Breaking out of this formation would mirror 'X' distance onto breakout-point above 'Y', this would translate to a price level of approx. $5.
This post will be updated continuously when mentionable changes can be observed.
Note
LINK still bullish, could break VWAP 'century' to head even higher.Note
1 of 2 (or 3) VWAP tests completed. LINK is strong above the 200MA, if volume stays steady it could reach $3 by mid February.Note
Expect a quick jump over 2.80 followed by a reverse for a touch at the 4H 50MA around 2.50 by tomorrow evening. This is actually very healthy for a successful exit of formation 1 and on to complete formation 2.
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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.