LINK - 4h. Sellers prepare for retest $23.5

10 mars 2021

Since the beginning of March, the LINK market has been trying to recover from a total drop on February 22-23. In the previous idea, we predicted a rise in the price of LINKUSDT to the range of $ 33-34.

Before testing this range, we expected a local drop in the LINKUSD price to $27.3-28.3. However, sellers managed to bring the price lower. This fact showed that there are not many interested buyers in the CHAINLINK market who are ready to hold liquid zones. Notice how difficult it was for buyers to immediately regain control of the range of $27.3-28.3:

Basically, in a strong market, buyers only touch the liquid range. In this case, we see a different picture.

Thus, the local growth in the LINK market has formed a wedge, the upper trend line of which is near the range of $32.7-34. The LINK price does not respond well to today's BTC growth, which may confirm our opinion that the price will fall again to the mark of $23.5.

At the moment, we have only one question - the falls will start from the current price, or buyers will still manage to buy $32.7-34.

P.S. if we are wrong, we will consider long positions only after the price fixes above $32.7-34
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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