ChainLinkShort
Link on an 8 hour. Brief rebound then looks like a long decline.
Link looks like itll have a quick rebound before starting a decline that looks as if itll find a bottom around Oct 18th. If you look back at my pass charts, where trend lines cross almost always seems to signal a reversal. The sizes of the reversals vary but seem to be larger where more trend lines intersect. Oct 18th is loaded with trends overlapping, all of which are trends based off the largest movements of volume within the time periods contained within the trend.
I do not suggest a short here however as the crypto market in itself tends to suggest the opposite of what link here is showing and link also has a very active retail community who could take advantage of any dips to bolster the price. This is more a suggestion of caution if contemplating a long, as well as potentially a guide to help determine a buying point if the price follows the chart from now until Oct 18th. That being said, I only short on very short time frames, so if your a long term shorter you probably know what your doing and can disregard this.
Also, on the link chart I posted earlier today comparing the 1hr to the 30m, you can see that the peaks on the 1hr are in a decline and the peaks on the 30m are on an incline, which suggest that there is more support in this cycle when relatively compared to the last.
That means there is evidence of both a potential breakout and a potential dump. However it is always healthy to have a good retrace before attempting new all time highs and I dont see link breaking $21 unless it goes through a healthy correction first.
I do not suggest a short here however as the crypto market in itself tends to suggest the opposite of what link here is showing and link also has a very active retail community who could take advantage of any dips to bolster the price. This is more a suggestion of caution if contemplating a long, as well as potentially a guide to help determine a buying point if the price follows the chart from now until Oct 18th. That being said, I only short on very short time frames, so if your a long term shorter you probably know what your doing and can disregard this.
Also, on the link chart I posted earlier today comparing the 1hr to the 30m, you can see that the peaks on the 1hr are in a decline and the peaks on the 30m are on an incline, which suggest that there is more support in this cycle when relatively compared to the last.
That means there is evidence of both a potential breakout and a potential dump. However it is always healthy to have a good retrace before attempting new all time highs and I dont see link breaking $21 unless it goes through a healthy correction first.
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