Update 2 - A Weak Link In The Chain For The Bulls

Updated

Quick update, We aren't out of the woods yet but we're certainly looking better. We seemed to have completely avoid contact with the original H&S support line with a short term trend change, and now we're working our way back to test some upper resistance lines. I'll personally be watching breaks of these lines and how much follow through/volume we get. I really don't want to see a loss of supports as we make them on our way up. Weakness or below average volume this close to the H&S trend-line could be indicative of breaking it.

Keep your money safe and have your stops set for worst cast scenario! Thank you for checking out my idea and drop me a like if you found it helpful.

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Just formed our first support at $2.678. If you want to be safe place a stop right under this level. Ideally we won't break it before breaking $2.79.

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Well BTC just broke out and now LINK is falling back under that support. Weird price action. Keep your stops under the major support line IMO for now.

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Looking like a rejected Inverted H&S and now we're flirting with the original bearish H&S support line. If we break the support line and our $2.62 support that's probably what the majority is waiting on. A flush to $2.52 could very well follow.

Something to note as far as price correlation is concerned; is that when BTC made its move up LINK really didn't get any good upward price action from it. Though as BTC corrected down LINK did. LINK showing more signs of bullish weakness?

Dtradess

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