Linkusdsignals
LINKUSD: Was It a Fake Bullish Breakout? 😱 | Nov. 25, 2022This week, we will stick to the 4-hour time frame to analyze the price action in detail!
It seems like a false bullish breakout was seen earlier this week following which a strong rally was witnessed. Seems like the price will soon approach the next resistance situated at $7.35. If the resistance is reclaimed by the bulls, traders can expect a strong rally in the coming week.
Once the resistance at $7.35 is reclaimed, we can see a clear path to the supply zone at $8.51. However, this view is only valid once the price is able to sustain above $7.35.
Traders must maintain caution of the demand zone at $6 because if this zone is broken once again, a sharp fall could be seen. At the time of writing, it looks like we may see a small pullback as the RSI has started falling. Expect the price to test the support at $6.3 before continuing the rally.
The important price levels for this week are $6.3 and $7.35!
Trading Signal For LINKUSDT ChainlinkTrading Setup:
A Trading Signal is seen in the LINKUSDT Chainlink.
Traders can open their Buy Trades NOW
⬆️Buy now or Buy on 5.615
⭕️SL @ 4.980
🔵TP1 @ 7.357
🔵TP2 @ 8.507
🔵TP3 @ 9.770
What are these signals based on?
Classical Technical Analysis
Price Action Candlesticks Fibonacci
RSI, Moving Average , Ichimoku , Bollinger Bands
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LINK Is Trading Too Close to Support! What's Next? 😨 Nov. 18In our previous analysis, we ascertained if the support at $7.5 is taken out, the price will test the last standing support at $6.2.
At the time of writing, LINK is trading dangerously close to the support at $6.2, and it looks like a breakdown could be seen soon.
If this support is broken, traders can expect the price to collapse to $5.2, which is the 52-week low.
Therefore, traders should proceed with caution until LINK is able to reclaim the resistance at $6.5.
LINK : Bearish setup here...Link is trading inside a bearish pennant like pattern and if price breaks below the trendline, Expecting more downside for Chainlink.
Traders can keep manual stoploss of hold above 7.2
LINK is a SLEEPING GIANTThe value potential on LINK is incredible and how could someone not take this opportunity to load up? We are now on the verge of closing above a range that could launch the price to almost 30%. Bullish divergence on the weekly along with all other major timescales as we start to slowly see the tides turning and crypto not following other major markets as they look to be decoupling in some ways….. LINK
LINKUSDT Forming Bearish PatternLinkusdt is forming BEARISH BAT Harmonic Pattern.
The Bat pattern is a retracement and continuation pattern that lets you enter a trend at a good price just as it is resuming. It is similar to the Gartley pattern but uses different Fibonacci levels.
I have marked the potential reversal zone and targets.
RSI is showing Hidden Bearish Divergence.
Manage your Risk accordingly.
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NOT A FINANCIAL ADVICE
Don't risk more than 1% on any trade