Trading LINK within the stained glass fan

Updated

Possible road map for LINK the next few days. All things considered, mainnet didn't really dump THAT hard. But it was considerable. This shows there could still be some buyers at the higher resistance levels. In the last chart, I showed that the main buy zones would be the 10-11k region and 8-9k regions below that. Now if you can see through these beautiful stained glass window colours on this chart, LINK seems to have completed something of a 1-2-3-4-5 elliott wave structure followed by an ABC correction. That should mean we will now begin another 5 waves down. We can see there is a pullback happening now, as LINK broke upwards out of the descending triangle (which usually breaks down). If you feel inclined, it would be possible to scalp a trade from here to there. That would complete wave 4, that we can't easily put a figure on at this point, so I have aligned it with the previous B which has been a strong confluence zone recently. However, please note that it could be higher or lower than that. A big pump past the previous highs would invalidate this EW structure and be a bullish sign.

From the estimated 4th wave location, the trend based fib-extension shows the final wave targeting exactly the range that I mentioned before! It's all lining up perfectly for a good trade.

Please don't forget to leave a like!

Sayonnara.

Note

UPDATE

Note

The ABC is taking longer to play out, so it's not symetrical to the previous move down we had. So now the target is lower and there is a chance we could just dump again at any moment. Need to see more volume to be convincing.

Note

Update

Trade closed: target reached

Etch1234

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