Hey everyone. I just want to say there's A LOT going on in this chart but hopefully it isn't confusing!
Basically I think CHAINLINK looks strong in relation to BTC's current position. Link is above the EMA ribbon and has a little room to fall and possibly bounce.
IF it doesn't bounce I still think there's a good chance it won't fall much further and maybe it'll drag the bottom instead (PATH B)
THE $28-30 AREA LOOKS GOOD TO ME FOR A BUY/LONG with a stop loss a little below the EMA ribbon
there is an SMALLER INVERSE H&S pattern that looks good to play out (13% -15% from buy zone)
IF it does it could make a BIGGER INVERSE H&S PATTERN with higher targets (35% - 40% from buy zone)
Will keep an eye on it and update.
If you like this IDEA please LIKE, SHARE, and FOLLOW. It's Appreciated.
More ideas later as it is still Sunday (THE WEEKEND)
*** THIS IS JUST AN IDEA BASED OF MY EXPERIENCE ANALYZING CHARTS AND STUDYING CRYPTO, NOT FINANCIAL ADVICE. I ALWAYS RECCOMMEND DOING YOUR OWN RESEARCH BEFORE INVESTING OR TRADING***
Basically I think CHAINLINK looks strong in relation to BTC's current position. Link is above the EMA ribbon and has a little room to fall and possibly bounce.
IF it doesn't bounce I still think there's a good chance it won't fall much further and maybe it'll drag the bottom instead (PATH B)
THE $28-30 AREA LOOKS GOOD TO ME FOR A BUY/LONG with a stop loss a little below the EMA ribbon
there is an SMALLER INVERSE H&S pattern that looks good to play out (13% -15% from buy zone)
IF it does it could make a BIGGER INVERSE H&S PATTERN with higher targets (35% - 40% from buy zone)
Will keep an eye on it and update.
If you like this IDEA please LIKE, SHARE, and FOLLOW. It's Appreciated.
More ideas later as it is still Sunday (THE WEEKEND)
*** THIS IS JUST AN IDEA BASED OF MY EXPERIENCE ANALYZING CHARTS AND STUDYING CRYPTO, NOT FINANCIAL ADVICE. I ALWAYS RECCOMMEND DOING YOUR OWN RESEARCH BEFORE INVESTING OR TRADING***
