Chainlink vs USD - Gravestone DOJI

Following a 10,000% (yes ten thousand) rise in only 604 days (Some folks would argue the Bull run for Link has not yet begun - oh dear); we now have the above 3-day chart showing significant reversal indications. They include:

1) The oversold indicators (Green columns) with following lower highs in RSI.

2) Gravestone DOJI candlestick recently printed as Stochastic RSI crosses down 80.

3) Falling volume.

4) Money Flow Index support (bottom oscillator) confirms resistance.

Targets?

1st $8.87

2nd $5

3rd $3

Can price action move higher? For sure. However the risk/reward is diabolical.

Is it probable price action can move higher? Very unlikely.

Commentaire:

Thought this was interesting - regular bearish divergence on the monthly chart. Higher highs in price action with lower lows in Stochastic RSI.

Commentaire:

RSI & MFI resistance (blue lines) until December 25th - Merry Christmas!

Transaction en cours

Commentaire:

$14.23 - the bulls have got to smash through this level and convincingly. Rejection from here will be an express elevator to the south pole.

Transaction en cours:

Almost a month later and we're back to where we started - resistance is holding.

If it holds RSI resistance predicts price action shall remain in a downtrend until April.

Transaction en cours:

1st target reached.

Trade fermée manuellement