LINK/BTC - Fractals to notice
Link has been one of TOP performers last 6 months. In this chart I bring a scenario for bulls out there who think that Link is still about to grow and just looking for an accumulation zone.
There are significant fractals with the previous price action:
First thing we can notice is the (non)importance of 200D MA - Correction during a bull cycle played both previous times so, that Link went under the 200 MA and stayed there for a couple of days, or even weeks. Afterwards it bounced back up with nice momentum and volume and began a new bullish sub-cycle.
Historically speaking, the accumulation period happend UNDER the 200 MA on daily chart.
The safest thing to do is wait until it goes under the 200 MA and bounces back above it. Only then we can be somehow "sure" that it will continue up.
For all gamblers out there - there is one more option and that is katching the knife on S/R flip priced 0.x24 BTC. It is much more risky, but you can get a really good RRR here.
Before any entry, I would also like to see fractal similarity on RSI as it is marked in the chart.
There are significant fractals with the previous price action:
First thing we can notice is the (non)importance of 200D MA - Correction during a bull cycle played both previous times so, that Link went under the 200 MA and stayed there for a couple of days, or even weeks. Afterwards it bounced back up with nice momentum and volume and began a new bullish sub-cycle.
Historically speaking, the accumulation period happend UNDER the 200 MA on daily chart.
The safest thing to do is wait until it goes under the 200 MA and bounces back above it. Only then we can be somehow "sure" that it will continue up.
For all gamblers out there - there is one more option and that is katching the knife on S/R flip priced 0.x24 BTC. It is much more risky, but you can get a really good RRR here.
Before any entry, I would also like to see fractal similarity on RSI as it is marked in the chart.
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