Happy New Years! fellow traders.
Today we consider the trading pair, LINK/USD
From the chart above we can see LINK price is in an ascending channel, tho not the most parallel one to the eye, but it fits.
Taking a look at our RSI, each time value entered the oversold region, a bounce occured right away, also aligning with price returning back to channel support and bouncing as well on each correction wave.
Currently in it's wave 4 correction wave, Price seems to have bottomed out, tho currently below channel support!!!
Should price fail to close a candle inside the channel, Downside is $13-$10.
However, if we do succesfully reclaim the channel, which i think we will, we will most likely see $200 Link, earlier than anticipated as well.
If you agree with this idea pls leave a like as well as your thoughts in the comments section.
As always, feedback is appreciated.
Today we consider the trading pair, LINK/USD
From the chart above we can see LINK price is in an ascending channel, tho not the most parallel one to the eye, but it fits.
Taking a look at our RSI, each time value entered the oversold region, a bounce occured right away, also aligning with price returning back to channel support and bouncing as well on each correction wave.
Currently in it's wave 4 correction wave, Price seems to have bottomed out, tho currently below channel support!!!
Should price fail to close a candle inside the channel, Downside is $13-$10.
However, if we do succesfully reclaim the channel, which i think we will, we will most likely see $200 Link, earlier than anticipated as well.
If you agree with this idea pls leave a like as well as your thoughts in the comments section.
As always, feedback is appreciated.
Transaction en cours:
As pointed out earlier, link needed to close back inside the channel otherwise we risk going for a free fall to our much preferred area of interest.
Link managed to do exactly just that and I have copped some
However, we could see our Wave C stop at the 123.6% of wave A depending on where Bitcoin finds support.
Apply proper risk management
Link managed to do exactly just that and I have copped some
Apply proper risk management
Transaction en cours:
Also try your luck for more buy orders in the case btc sees 30k still
