Shout-out to EuroMotiff for pointing out the Elliot Wave possibility on one of his ideas. My Elliot Wave slightly differs from his and that's why I'm posting it. I believe this last wave up was our 3rd wave and we're currently in the 4th. Another wave aligns with the RSI levels cooling off, some shorter term RSI getting into oversold, and the falling wedge you can see here. With a 5th wave LINKBTC is going to re-test its all time high at 0.000395 Satoshis. Which puts us at a $3.40 price target as of posting this. Though I know Wave 5 is supposed to be stronger than any other waves. With this is mind maybe LINKBTC actually breaks its high and takes us higher to $3.50 or $3.60. $3.40 or somewhere just under would be the safest exit point.
I believe if we can breakout of this falling wedge we can go for the re-test of $3.16 which will also be very important to break. A significant break of the lower trendline on my falling wedge may scrap this idea.
As always take this analysis with a grain of salt. I could be wrong! It's your job to keep your money safe. Set your stops friends.
I believe if we can breakout of this falling wedge we can go for the re-test of $3.16 which will also be very important to break. A significant break of the lower trendline on my falling wedge may scrap this idea.
As always take this analysis with a grain of salt. I could be wrong! It's your job to keep your money safe. Set your stops friends.
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Some interesting weather we got here.
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I believe wave 5 is a no go according to Elliot's theory. It states Wave 4's correction should not make it into wave 1's price zone. Unfortunately, it has by dipping below $2.85.
Depending on how this 4hr candle ends I think we should at least see a lower high in comparison to $3.16 on the 4hr chart. It's certainly still possible to break $3.16, but it's going to be a little harder to do and as a result more unlikely.
Depending on how this 4hr candle ends I think we should at least see a lower high in comparison to $3.16 on the 4hr chart. It's certainly still possible to break $3.16, but it's going to be a little harder to do and as a result more unlikely.
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Check out this analysis for a update.
