I'm not a short term trader, but Chainlink has potentially finished a 3 wave correction at the previously monthly open + 1:1 trend based fib extension @ $13.54. Additionally, Chainlink is holding the 50 Daily Moving Orange in Orange for the 1st time as support since late March. As stated in previous cryptocurrency posts, things are getting really spicy and interesting in crypto!
Next important pivots for Chainlink to break is at $15.99 and the 1.618 white trend based fib extension at $18.56.
Next important pivots for Chainlink to break is at $15.99 and the 1.618 white trend based fib extension at $18.56.
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LOLNote
Just like TAO/BTC, LINK/BTC is also trading in a bullish descending channel
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BANG! Next short term targets: 200 DMA in Red & 0.5 blue fib @ $17.68, and white 1.618 trend based fib extension and blue 2.272 fibbonaci retracement @ $18.562
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Chainlink getting rejected by the area in the note above. Updated Support Levels: 0.382 blue fib & 1:1 white trend based fib extension @ $15.878. A sustained break below $15.878, LINK is most likely going to test $14.423 - $14.879 (2 Golden Windows, blue 0.382 fib, and 4HR 200MA.
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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.