A Weak LINK In The Chain For The Bulls
Updated
My concern is that we just made a 15min trend change that could lead us down to testing the H&S neckline. I may be getting ahead of myself, but a broken neckline should send at least a re-test of the current low just above $2.50. This is definitely a case the bears could make so watch out!
Set your stops in-case we are actually heading down.
Set your stops in-case we are actually heading down.
Note
There is a possibility the 'higher low' we broke wasn't actually a higher low yet. We could still be forming it. It would be more convincing if we broke $2.64.Note
Click the chart for a little update.
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I apologize for the white thumbnails on my ideas. I got in contact with support and found the issue was being caused by a VPN browser extension.Note
Another quick update! Drop me some likes on my posts if you are finding any of this helpful. It's really easy to click that thumb to help me out.
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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.Note
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.Note
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?
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