LINKUSDT - Still in Downward Pressure & Stair Stepping Down...

As pointed out in this video, we currently have a race between the White Energy in the 24h and the Red RSI in the 2-Day Time Frame. It appears the Red RSI in the 2-Day will likely win this race. Which means we will likely transition to a race between the White Energy in the 2-Day and the Red RSI in the 4-Day soon. This means we are still experiencing downward pressure. Which also means we will see sideways price action at best -OR- downward price action at worst.

Let me remind you I'm still in a FIB Re-Trace study for a long term bull trend with LINKUSDT. Which means we have not drawn a conclusion if we should use FIB Re-Trace Based on Log Scale or not. We have already hit the 0.618 FIB Re-Trace with the FIB "not" based on LOG scale. However, we still have a ways to go yet if it ends up we "should" use a FIB Re-Trace Based on Log Scale. This is discussed in the video.

I'm leaving this publication labeled as "Neutral" until we can make a determination as to setup FIB Re-Trace based on log scale or not. REMINDER: Still experiencing downward pressure and we should see sideways price action at best or downward price action at worst to potentially confirm we should setup FIB Re-Trace based on Log Scale.

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Commentaire:

UPDATE:

I've adjusted the FIB Re-Trace to "Based on Log Scale" and we have hit the 0.786 level at $9.4207.