LINK/BTC has been in a consolidation period for a while and is ending consolidation hopefully by the end of the day. If the price is able to move out of the first triangle around point A, than we will see an upward move to or maybe even above 7000 given the CCI, RCI and Trend lines. If the price does not break through the above resistance area, we will likely see a consolidation period until point B where we should re-evaluate the indicators.
If the price does not move bullish, we will see a bearish movement with support at the point around 5850.
Bullish target: 7000
Bearish Support 1: 6000
Bearish Support 2: 5850
*Please comment on my chart and assumptions as I am always open to learning from feedback!
*BTC DONATIONS ALWAYS WELCOME: 16krV5FtyfmX4yxNEj5JArPqpEyGPDPZkw
*You are the decision maker in your trading, I cannot be held responsible for your lossess
If the price does not move bullish, we will see a bearish movement with support at the point around 5850.
Bullish target: 7000
Bearish Support 1: 6000
Bearish Support 2: 5850
*Please comment on my chart and assumptions as I am always open to learning from feedback!
*BTC DONATIONS ALWAYS WELCOME: 16krV5FtyfmX4yxNEj5JArPqpEyGPDPZkw
*You are the decision maker in your trading, I cannot be held responsible for your lossess
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BTW, Please keep watching BTC/USD as this affects the LINK/BTC movements.
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There we go. First triangle is broken so expect to see the target to be met soon and hopefully it breaks the higher resistance!
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Did not go as easy as expected. Some heavy resistance around 6750
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Watch Link as it is touching the resistance area!