Chainlink is bear the 1D MA50, a support level that has been intact since September 18th (almost three months). Despite the strong pullback, the 1D technical outlook is only neutral (RSI = 46.740, MACD = 0.490, ADX = 23.241), suggesting that the trend remains bullish and rightfully so as the pattern since the September lows is a Channel Up. That emerged after the longer than 1 year accumulation phase ended.
There is an interesting symmetry so far with the Channel Down (March-May 2022) that led to that accumulation and if it holds, then we might see the 1D MA50 break and the price entering the Symmetric S1 Zone. That will be our 2nd and final long entry. In both cases, we are targeting the R2 level (TP = 28.8500).
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There is an interesting symmetry so far with the Channel Down (March-May 2022) that led to that accumulation and if it holds, then we might see the 1D MA50 break and the price entering the Symmetric S1 Zone. That will be our 2nd and final long entry. In both cases, we are targeting the R2 level (TP = 28.8500).
See how our prior idea has worked:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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I trade Crypto, Forex, Indices & Commodities all from one account on PrimeXBT with TradingView charts
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Register here👉 investingscope.s.gy/PrimeXBT
Contact me for Account Management (+15% monthly profit)
Telegram👉 t.me/investingscope
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.