LINK.USDT (Y20.P5.E1).Macro.Bullish formation
Updated
Hi All,
Just putting forward a likely scenario based on a few points.
> we hit the 0.618 fib level as resistance;
> BTC has likely hit a resistance; hence a pullback is likely and hence for link as well;
> If there is a pullback, since BTC is still bullish, link will also;
If BTC looks for the daily 21 EMA, it maybe the case for LINK looking for the same, either the daily 21, or 50 EMA.
If this was to occur, as per the chart, it will on the macro level, create a cradle on the weekly where we use the larger ema support to go back in.
If this was the case, we can anticipate a macro continuation pattern, as we got here, a inverse H and S. It could also be some sort of ascending triangle.
Note, the fib levels on this chart and how they correlate with the structure and EMAs. All key ingredients for the next move.
These are my thoughts for now, in the planning.
Cheers,
S.SAri
PS. The wedge breakdown will be the trigger.
Just putting forward a likely scenario based on a few points.
> we hit the 0.618 fib level as resistance;
> BTC has likely hit a resistance; hence a pullback is likely and hence for link as well;
> If there is a pullback, since BTC is still bullish, link will also;
If BTC looks for the daily 21 EMA, it maybe the case for LINK looking for the same, either the daily 21, or 50 EMA.
If this was to occur, as per the chart, it will on the macro level, create a cradle on the weekly where we use the larger ema support to go back in.
If this was the case, we can anticipate a macro continuation pattern, as we got here, a inverse H and S. It could also be some sort of ascending triangle.
Note, the fib levels on this chart and how they correlate with the structure and EMAs. All key ingredients for the next move.
These are my thoughts for now, in the planning.
Cheers,
S.SAri
PS. The wedge breakdown will be the trigger.
Note
close up...its closeNote
another perspective, 2nd bullish scenario. Hence its important you know where your exit is otherwise you can miss the bullish move...there is an impending one on BTC and hence the ALTs. Here is the 3 drive pattern.Trade closed: target reached
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