Is the correction over?
That's the first question that comes to mind when looking at the Chainlink vs Bitcoin (LINKBTC) chart.
A major uptrend developed after the May 2022 low that peaked early November.
In December a lower high was hit followed by a strong correction.
Few signals point to a potential end of this corrective wave.
A reversal can happen here.
A higher low would lead to a higher high, let's find the next target.
Found, 0.00070782 for 130%.
Namaste.
That's the first question that comes to mind when looking at the Chainlink vs Bitcoin (LINKBTC) chart.
A major uptrend developed after the May 2022 low that peaked early November.
In December a lower high was hit followed by a strong correction.
Few signals point to a potential end of this corrective wave.
- 1) Trading volume has been on the decline. Bear volume peaked in November and has gone much lower.
- 2) RSI Bullish divergence. The RSI hit bottom in December yet LINKBTC continued to hit new lows.
- 3) Back above 0.618 Fib. Prices went below the 0.618 Fib. retracement level for the May-November bullish wave. Today, LINKBTC is moving back above this level. This is a strong bullish signal if it can stay above it.
- 4) Other BTC pairs going bullish. Across the market, many of the altcoins vs bitcoin pairs have gone bullish with some going green 3 digits within a single day.
- 5) EW Flat. We have a perfect flat correction, 3-3-5. Signaling the potential end of the current move.
A reversal can happen here.
A higher low would lead to a higher high, let's find the next target.
Found, 0.00070782 for 130%.
Namaste.
Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
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Trading Cryptocurrencies can be the hardest undertaking ever without the right trade-numbers, without accurate private-access information. Free is free, but the best always requires sweat, an investment. Since 2017 👇
t.me/masteranandatrades/8778
t.me/masteranandatrades/8778
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.