ChainLink / TetherUSShort
LINK/USDT Short Opportunity
LINK/USDT finished 5 waves up with wave 5 as a leading diagonal which looks like it will be broken soon. Since LINK/USDT also finished 5 waves inside the leading diagonal, I expect the price to break out now for its ABC correction to target 21.097 as a first target, which is also the beginning of the leading diagonal.
Breaking 21.097 will push the price towards retesting the previous wave 4 at 18.747. Furthermore, you should know that cryptocurrencies are known for long and annoying retests, thus expect this move to take time to develop especially after breaking the trendline.
Breaking 21.097 will push the price towards retesting the previous wave 4 at 18.747. Furthermore, you should know that cryptocurrencies are known for long and annoying retests, thus expect this move to take time to develop especially after breaking the trendline.
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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.