LINK:USDC- Bullish Penant Continuation. 5:1 R:R $1.11!!!
Updated
Target: $1.109
Stop loss: $0.84
Buy at breakout.
Stop loss: $0.84
Buy at breakout.
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So what I thought was a simple shakeout earlier with a stop hunting wick could actually be a bigger part of the plan for the bears. I actually DID get stop hunted but rebought because I thought it as an obvious stop hunt. In fact I am starting to get paranoid that posting on here is what is going to trigger my stops :^). Hahaha as if anybody with money reads this anyway right?
Maybe they are trying to make a new trend line that creates a small bear flag within this structure, to take us down below the resistance. If the first trendline holds, it's still okay. If it doesn't pop up out of it within the next couple of hours, and continues along the lower while trendline then it has turned into a symetrical triangle and will most likely break down. In that case we have our stop levels we are sticking to.
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Update: It did turn out to be a symmetrical triangle after all, but it broke upwards. Unfortunately, now we have no volume, probably because bull whales are going on a long awaited weekend away to enjoy the sun. So I think we will consolidate for 1-2 days and then hopefully follow that blue line. You can see the fib levels up to the target on that chart that should act as resistance.
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possibly some profit taking and bull shake out before we go up as well. I lowered my stop but I won't say how much by this time ;)Note
Guys, show me some love here. If you hit the like button I'd appreciate it. We're half way there already! Feel free to take profits and enjoy the weekend.Note
LINKBTC Weekly chart. Notice RSI is not yet overbought.
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LINKUSD Weekly chart. Notice that the RSI is overbought and today we get a weekly close on this candle. Although the last time we pumped like this in Jan 2018, RSI went all the way to 80 so it could go even more overbought.
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Got to say, it is very rewarding to wake up and see one of your high sell orders hit, and the price still following that blue line.
Another macro analysis coming later. Something a little spicy for you ;)
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NEW ANALYSIS
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GUYS I was spot on so far. And with the new m o o n p h a s e beginning (as per the new analysis), I would not be at all surprised if the price ends the 3rd wave at $1.11 or higher, then retraces healthily to $0.99 and then the final wave to historical resistance at ~$1.25. This ALSO happens to be the 1.68 fib ratio. So my count so far seems to be very legit. It's almost like cheating. This is also very feasible within the timeframe of before mainnet, which I believe will dump the price on the day. In fact, I would not be surprised if we even pump higher just so that whales can get people to FOMO and buy their bags higher.
If the above scenario does happen, and wave 4 retraces to $0.99 I WILL be adding more to my position from fiat because it will be the perfect entry in the golden pocket.
wHeRE ArE mY LiKeS?
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Just pointing out this is the best trade in my career
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