Hi everyone 👋🏽
🕊 Wish y'all have a profitable lifestyle 🍀
📌 LINKUSD- weekly Time Frame - Candlesticks
📌 W Pattern - Elliott Wave - Support Resistance zone - Double Bottom
📍 LINKUSDT is showing us some bullish signs after a very long boring correction moves
📍 We are in a very important support zone at the moment and I personally think that price is not going to break this level easily based on :
1- The double bottom pattern that chart has created
2- The possible W Pattern in weekly time frame
3- Fibonacci retracement 0.23%
📍 Chart has also created a very huge asymmetrical triangle (which is also a bullish sign)
⚠️ However, if the price does not hold this very important support zones we will see the 7.9$ - 8.45$ support zones
👉🏼 A very safe entry will be breaking the triangle:
⚠️ I do believe that we may see another retest of the current support zone after the retest of the triangle
👉🏼 Meaning that 27$-28$ price zones can be a big resistance level
📍 We do have a potential bullish RSI divergence in weekly and daily time frame which can be a confirmation of the W pattern.
📝 If you compare LINKUSD with BTCUSD during Feb - mid May you can figure out that LINK has done a better job, this time it may also happen.
THIS IS NOT A FINANCIAL ADVICE
PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION
GOOD LUCK
NP TRADER
🕊 Wish y'all have a profitable lifestyle 🍀
📌 LINKUSD- weekly Time Frame - Candlesticks
📌 W Pattern - Elliott Wave - Support Resistance zone - Double Bottom
📍 LINKUSDT is showing us some bullish signs after a very long boring correction moves
📍 We are in a very important support zone at the moment and I personally think that price is not going to break this level easily based on :
1- The double bottom pattern that chart has created
2- The possible W Pattern in weekly time frame
3- Fibonacci retracement 0.23%
📍 Chart has also created a very huge asymmetrical triangle (which is also a bullish sign)
⚠️ However, if the price does not hold this very important support zones we will see the 7.9$ - 8.45$ support zones
👉🏼 A very safe entry will be breaking the triangle:
⚠️ I do believe that we may see another retest of the current support zone after the retest of the triangle
👉🏼 Meaning that 27$-28$ price zones can be a big resistance level
📍 We do have a potential bullish RSI divergence in weekly and daily time frame which can be a confirmation of the W pattern.
📝 If you compare LINKUSD with BTCUSD during Feb - mid May you can figure out that LINK has done a better job, this time it may also happen.
THIS IS NOT A FINANCIAL ADVICE
PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ANY SELL OR BUY POSITION
GOOD LUCK
NP TRADER
Trade active
I am still looking at this chart and hope it does not correct more than 50% of its previous candle If it does I will wait for more confirmations!
Order cancelled
BTC chart not looking so good so does the LINK chartWe have seen a slight bullish momentum till 28.6 from very top
It also have engulfed a lot of the previous candles before
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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.
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.