LINK Chainlink - Massive Upside Coming
Hello friends, today you can review the technical analysis on the 1D linear scale chart for Chainlink ( LINKUSD ), a cryptocurrency altcoin.
#CryptoPickk noted in the chart:
1) Chainlink price is still down nearly 50% from the all time high at around $53.
2) The price has respected the Fibonacci Retracement levels as highlighted on the chart. The price recently had touched the 0.382 level two times (double bottom pattern), with a bounce up.
3) The Stochastic RSI (Stoch RSI) looks like it is potentially going down again to form a double bottom before moving up. CryptoPickk outlined this by the arrow.
4) The RSI (relative strength index) looks ready for a double bottom as well then upward momentum. CryptoPickk outlined this by the arrow.
5) The Volume Profile (VPVR) shows the highest amount of resistance at the current price level.
6) The Volume seems to be falling compared to the prior weeks with potential anticipation of a move coming.
7) If price moves higher, it could re-test the golden pocket which would be a 41% move up.
8) If price falls, it may be supported around the $21 range as shown by the dotted green line.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
#CryptoPickk noted in the chart:
1) Chainlink price is still down nearly 50% from the all time high at around $53.
2) The price has respected the Fibonacci Retracement levels as highlighted on the chart. The price recently had touched the 0.382 level two times (double bottom pattern), with a bounce up.
3) The Stochastic RSI (Stoch RSI) looks like it is potentially going down again to form a double bottom before moving up. CryptoPickk outlined this by the arrow.
4) The RSI (relative strength index) looks ready for a double bottom as well then upward momentum. CryptoPickk outlined this by the arrow.
5) The Volume Profile (VPVR) shows the highest amount of resistance at the current price level.
6) The Volume seems to be falling compared to the prior weeks with potential anticipation of a move coming.
7) If price moves higher, it could re-test the golden pocket which would be a 41% move up.
8) If price falls, it may be supported around the $21 range as shown by the dotted green line.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
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