LINK Breaking Wedge
Updated
LINK/USDT rallied recently in an attempt to break the wedge pattern it created and is currently trading along the lower trend line of the ascending channel indicated by the green lines. All of the EMA are reading lose together, telling us that price is trading right where it should be. When the EMA travel so close together for so long, it usually (but not always) prompts a price propulsion. This could be the start of a trend reversal. Support is displayed by the blue line at $9.80 - we may never see LINK for that price again. We can expect to see LINK trading within that ascending channel again soon and even beyond that this year. I will start DCA into LINK now as well as day trade the pair. Due to extreme volatility, I am not announcing buy or sell targets at this time, however they may be posted to this idea later. We can anticipate AT LEAST a 100% price jump by the end of 2020. Comment if you have any questions about this idea or my Technical Analysis in general.
Note
2021*Note
The wedge is considered broken. Let’s see if price stays in or above the ascending channel.
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