The show goes on for Link. 3 potential targets. $15 - $16 are the corrective targets as there is a chance that this correction can drag out until October 3rd. Otherwise, this fits the minimum criteria for a textbook 4th wave retracement with the primary targets of a terminal 5th wave at $19.90 or another move higher to $24 - $25. Breaking beyond that is when we can consider targets in the $35 - $40 range. However, this is extremely contrarian to my outlook on the rest of the market, so we will have to see how it plays out.
If LINK is actually rhyming with ETHs historic price action, then this is definitely on the books over the next 1-2 months, followed by a retrace to est $7 before proceeding upwards to 3 digits
Unchained_Trading
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@B_Musk, Glad to hear it. Something like this is always entirely possible as well. There are always two counts since no one can ever be certain. And I'm not overly convinced that we are in a bull market just yet.
ThanosTheBear
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@mduchow Do you think a pump to $14 will happen after this massive dump today or straight to $9 this week?
Unchained_Trading
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@jazzpazo23, If I had to bet, I would say that we will have at least one hit higher to the corrective targets to finish out the structure before heading down. It's not required to complete the structure, but it's likely that it will. The fact that the latest move down was a clear 3 waves, bolsters the case for more upside. It's too soon to tell whether that upside will be corrective or impulsive, but it's upside none the less. If the rest of the market capitulates then obviously that changes things, but so far everything has been corrective. So yes, with the way things look right now, I would say that at least $14 - $15 are likely