Link's another 50% correction possibility
Updated
With more than 5000% gain in recent years, ChainLink is one the heroes in cryptos market. But recently it started some sever correction. Recently completed a 50% correction that was predictable. This my chart when I realized the possibility of correction and marked the possible targets:
now as you can see, we reached to the first target:
Now reaching to the second targets are reasonable based on USD index and BTC dominance re gaining in short terms. All I do is monitor my own algo to see if the projected scenario is achievable and when is the best time to enter. Since last year and half (after listing LINK in Binance) I’ve got 15 signals on its price action, 1 went wrong and invalid, 14 went right! Win rate 93%. This is the weekly chart you can see the bearish signal in the top before this 50% correction:
Do your own research my friends and have best trades.
now as you can see, we reached to the first target:
Now reaching to the second targets are reasonable based on USD index and BTC dominance re gaining in short terms. All I do is monitor my own algo to see if the projected scenario is achievable and when is the best time to enter. Since last year and half (after listing LINK in Binance) I’ve got 15 signals on its price action, 1 went wrong and invalid, 14 went right! Win rate 93%. This is the weekly chart you can see the bearish signal in the top before this 50% correction:
Do your own research my friends and have best trades.
Note
Based on fundamental factors this drop may be a short term fear in the markets, so it is not wise to overlook the bullish scenario. Also there's a new harmonic (Gartley) completed here. So I've adjusted the chart based on these:We should wait for reaction in the key levels.
Note
As foreseenNote
Done! Note
Retesting 7$? Even lower possible in Daily and Weekly chartsNote
Things getting different. Link starts to making HH & HL.The bearish trend was so strong that one can hardly assess if it is a correction or next big bulls are coming. I see possibility of bearish moves in several zones between 12 – 17, if that leads to another HL it would be great!
Note
Still bulls are pushing Note
More choppy moves in short terms scenarioNote
imminently reversed to the upper line after touching bearish target
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.