Honestly, this is a very difficult chart to apply technical analysis on. We can see that none of the tops align, none of the bottoms align. It doesn't matter where you look, there is almost no possibility to draw horizontal areas.
Most often when this happens, the price is moving in a trendy way. There is an inherent continuous down- or upforce that moves the price in a direction. The only moves that move away from that direction are the shorter moves. No complete retracements can be found.
We unfortunately see that LINKUSD is in a downtrend right now. The tops keep consistently dropping. There is a small upwards pressure at the moment forming a symmetrical triangle. However, I just see this as a great opportunity to enter a short still on a relatively high position.
We need to admit LINK is moving to lower areas, I suggest to open a short position and try to trade it at least until the most recent bottom.
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- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
Most often when this happens, the price is moving in a trendy way. There is an inherent continuous down- or upforce that moves the price in a direction. The only moves that move away from that direction are the shorter moves. No complete retracements can be found.
We unfortunately see that LINKUSD is in a downtrend right now. The tops keep consistently dropping. There is a small upwards pressure at the moment forming a symmetrical triangle. However, I just see this as a great opportunity to enter a short still on a relatively high position.
We need to admit LINK is moving to lower areas, I suggest to open a short position and try to trade it at least until the most recent bottom.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
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