LINKUSDT: looking for shorts8 USDT is resistance on the Daily and the Weekly.
There's a Trend-based Fib resistance around 7.85 USDT on the weekly.
The 7.85 - 8 USDT area is also a "bearish" order block/FTA (first trouble area) on the 8H.
"Bearish" order block/ FTA = last green candle before downtrend.
It's the area where price has a (relatively) strong reaction to the downside (bullish order block is vice versa).
This level also aligns with the 0.786 Fib resistance.
Let's see if price reaches these levels. Might not get higher than 7.7 USDT.
On the 8H there is a bearish order block. And 7.7 USDT is confluent with the 0.618 Fib resistance.
Trend-based
AVAXUSDT 1D TARGETS and STOPLOSSHello everyone, let's take a look at the 1D AVAX to USDT chart as you can see the price is moving above the local uptrend line.
Let's start by setting goals for the near future that we can consider:
T1 - $ 18.74
T2 - $ 21.01
T3 - $ 23.32
T4 - 25.35
and
T5 - $ 28.14
Now let's move on to the stop loss in case of further market declines:
SL1 - $ 16.53
SL2 - $ 14.14
SL3 - $ 12.22
SL4 - $ 10.16
and
SL5 - $ 7.43
Looking at the CHOP indicator, we can see that in the 1D range the energy has increased significantly, and the MACD indicator shows a downward trend.
30% profit in case of formation of an upward trendYesterday, fortunately, with a suitable volume, the downtrend line was broken and we saw a pullback to it in the four-hour time frame.
Due to the formation of a new uptrend, I pulled a TREND-Based Fib at the beginning of the trend and as it can be seen in the picture, it worked well. Due to the formation of Doji on the support of 1 Fibo and the good support of the trend line, I expect the resumption of the uptrend and the most important resistance along the trend of $ 2, which is the resistance of Rand number and 1.618 Fibo Nachi, and in case of failure 2.3 I consider $ and $ 2.8 to be the most important resistances.
In the daily timeframe, we also had a continuous Wedge that broke, and I expect the price to increase as much as the norm, which is exactly $ 2.8.
CWEI analyse long termI think that CWEI will rise to 60 or less if the stock come back to 40,00 $.
I think so due to the fact that
·the price just broke 1 ( 0.28 )Trend-Based Fib Extension
· also it broke the down trendline
· it just had an pullback in the pitchfork you could see in the picture
· also an uptrend just started
Fib Extension ToolYou can use it for different things. my main use for it is to project targets based on impuls legs. not always will an ABCD pattern have the AB=CD 1:1 ratio. CD will often be in a fib ratio to AB like indicated on the chart. using the tool you can find different levels quickly and even set your own custom level values.
You can find it in your drawing toolbar by clicking the third icon and selecting "Trend-Based Fib Extension"