LINK ANALYSIS:
LINK is bouncing off a support form the previous ascending triangle, but the declining volume on the bounce shows some weakness within buyers. I think the daily resistance is going to hold a very strong block zone.
There is also a painted divergence on the RSI and Stoch between both highs. This combined with the decreasing volume, AND a small rising wedge makes LINK positioned for another leg down. Im looking for a final target at T3 of 39000 sats. I expect another bounce upon entering the green box.
Short Entries: 42800-43000
LINK is bouncing off a support form the previous ascending triangle, but the declining volume on the bounce shows some weakness within buyers. I think the daily resistance is going to hold a very strong block zone.
There is also a painted divergence on the RSI and Stoch between both highs. This combined with the decreasing volume, AND a small rising wedge makes LINK positioned for another leg down. Im looking for a final target at T3 of 39000 sats. I expect another bounce upon entering the green box.
Short Entries: 42800-43000