Run is almost over $12.50-$13.00 target then retrace to $8.50-$9
Chainlinks chart shows it trading in a upward broadening wedge which have a bearish outcome when they end. The top of this broadening wedge is nearing.
Within this chart we have decreasing volume even in this last mega push from $7.20 the volume is still decreasing showing lack of interest in buyers at this range. The MACD is at its previous all time high and looks to be peaking out soon and beginning its descent from these highs soon. The RSI has been in the oversold range for a few days now. Looks like this will top out at the $12.50-$13.00 range and then retrace back to $8.50-$9.00 range and then attempt to recover and either lose support and break down or begin a new trading pattern as it cant realistically stay in this range for too much longer.
My strategy is to short once it hits above $12.50
Within this chart we have decreasing volume even in this last mega push from $7.20 the volume is still decreasing showing lack of interest in buyers at this range. The MACD is at its previous all time high and looks to be peaking out soon and beginning its descent from these highs soon. The RSI has been in the oversold range for a few days now. Looks like this will top out at the $12.50-$13.00 range and then retrace back to $8.50-$9.00 range and then attempt to recover and either lose support and break down or begin a new trading pattern as it cant realistically stay in this range for too much longer.
My strategy is to short once it hits above $12.50