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LINK.BTC (Y20.P3.E3).TA on the Macro structureHi, :::::::::::::::: LINK/BTC :::::::::: This is an updated reviewed TA from the of the previous LINK.BTC post, link below :::::::::::::::: This chart gives a graphical account or explanation on the structure so far where we noted the howg fib. levels come into play and make sense. Therefore I will add some short commentary to what I have taken from this. Observation: ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: > Note how I have a number of fib. sections on the left of the chart and how I used them which basically indicated from the top of each impulse we have a retraction to the 0.618 fib retracement level; > The blue arrows summarize the impulse moves from top to the support\retracement level (to 0.618) > Note how the gradient of each cycle, bottom line, is increasing in steepness (trend-line); > Note at a few areas, we have contraction\squeeze at the bottom trend-line, indicating another big move to come, represented by the green triangles; > Note the blue thin line (main resistance level) representing the top of each phase as a ascending triangle. > Some fractal's taking place; > Obvious one is that the trend upwards is maintained and is a beautiful healthy structure to keep going, likely; > The arc dotted lines are associated with fib circles which makes sense since we have a fib. level structure in price action; My Thoughts: ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: From here I have 2 scenarios; scenario 1: we have made the top in this impulse and will have a pullback to the previous top level as depicted on the chart; scenario 2: we have not made the top in this impulse and we can go slightly higher to the red section, which will make the precious top level equal to the 0.618 retracement; This is represented by the red arrows at the top of the chart, or possibly higher. For now, I'm using the 8 HRLY or 12 HRLY to trade within this structure but reserve most of my funds to the orange level either way. How to trade this? ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: I have jump in at 0.382 level as my WT indicator plus the bullish candle has given me the signal and I'm not sure if its going to play out as per this post or as the red arrows (scenario 2) indicate. I don't think it will go higher but either way, I'll sell when I feel the top is there. Below are some screen shots some from a few hours ago. Please give me a like or tick for this effort. Thanks, S.Sari Reason I bought in: Reason for scenario 2, refer to the red fib. levels on the right side of the chart My previous version of the structure
Long
by ssari
LINK making rising wedge patternLINK is making higher highs and higher lows after being rejected from a weekly support level, making a rising wedge pattern. Usually, Rising wedge pattern indicates a bear movement. But here in this chart as you can see, the candles in between the two trend lines are respecting the support and resistance of trend lines. Link is right now at a very crucial stage, as it is below the daily resistance level. It has to break the daily level in order to continue the rising wedge pattern. Volume as I mentioned in the chart, is decreasing but the movement is upward rising, indication a VOLUME DIVERGENCE. (Bearish Move ahead). Volume has to increase in order to break the daily level. 82239 is the daily resistance level, it must be broken then next move would be to test the resistance at 85036. If you want to long, wait for candle to form above daily level, then move could become bullish up to 85036. I have described both the situations. Now it's up to you to decide. I don't create FOMO's. I Just try to give you the clear picture so that trading decision becomes easy for you. I only make these charts for educational purposes. I am not earning anything, FREE TA. Good Luck.
by SmartMaxi
LINK.BTC (Y20.P3.E3).v2.StalkingHi, With this current BTC drop, it has given another opportunity to jump in to accumulate more BTC or LINK at a cheaper price. I jumped in at the 0.382 level for another trade. Usually I look for the 2nd touch to confirm the support level, but with some bullish charts like this, you might have to accept 1 touch, as per chart below It has confluence at a previous resistance as well as the fib level. Note: The 0.5 level looks more inviting or sound. Looking at the weekly, the structure and indicator is still bullish. No red candle stick or large wick yet. Looking at the 2Day chart, a similar story. Looking at the macro level, there is still a chance that Link can go parabolic, only if BTC holds the 8900-9K level and then up. You have to be in it to win it. Please give me a like or tick for this post. Cheers, S.Sari
Long
by ssari
4
#LINKBTC LONG.. #LINKBTC should be followed carefully. The trend line I mentioned in the chart has worked as a very good support from the past to the present.. ma10 and ma20 have already formed an upward intersection, in #LINKBTC, if the ma50 resistance is broken, we can see serious upward movement.. We will wait and see.. Disclaimer: What I wrote is not investment advice.. Please do your own due diligence when it comes to crypto-investing.. Never put in money that you cannot afford to lose.. Invest at your own risk.. I wish you all the best..
Long
by OguzhanSengor
LINK.BTC (Y20.P3.E1).Prepare for entryHi everyone, Looking at LINK pairing, we can see from previous cycles how LINK makes clear when to enter, bullish div. Looking at this chart, we see the fib levels, macro pennant formation, support and resistance levels all coming together to tell you the story. Depending on what indicator you use and what's happening with other ALTs, LINK is one I'm looking at going long, this time round. It performance in the past was one of those in the lead with less risk than the many unpopular ALTS. Anyway, just giving you a heads up and not to miss it. I did well calling out CHZ, this one is another, to plan in. ETH is also coming slowly to the plate. Having said that, one should look at the general markets, like the SP500 and see how they are tracking. If they are not staying strong, then our planning will not come to fruition. Please give me a like or tick for this presentations. Cheers, S.Sari
Long
by ssari
6
Chainlink: Bearish Pattern and Divergence 4H (Apr. 27)X FORCE GLOBAL ANALYSIS: In this analysis, we explore the extremely bearish technicals demonstrated in Chainlink's (LINK) short term charts. Technical Analysis - The first thing we can spot is a bearish divergence, in which prices create higher highs and indicators create lower highs - The Relative Strength Index (RSI) shows a clear lack in strength with lower highs - The Moving Average Convergence Divergence (MACD) also shows lack of momentum with lower highs - We can see a textbook ascending wedge pattern, which is interpreted as a bearish reversal pattern in an uptrend - Counting Elliott Triangle Waves (ABCDE), we can see that wave E has completed its formation, and we can expect a breakdown - Bollinger bands are narrowing, which is a sign of a potentially big move. What We Believe Based on the bearish technicals suggested, we believe that Chainlink's bearish probabilities are extremely high for the immediate term. Trade Safe.
COINBASE:LINKUSDShort
by XForceGlobal
4