There is only two ways for an asset UP or DOWN LINK is in a solide uptrend for years now. After the last run up from 0.5$ to 4.5$ the coin has been ranging sidways...
All range must come to an end eventually either breaking up or breaking down. The momentum of this coin is strong with no setback visible as of now. I think this is an accumulation ragne until the next move higher. If the coin can trend above the last known resitance (2.82$) I expect new ATHs this year.
As the trend develope I will keep you fully updated.
disclamer: this is not financial advice and everyone involved in trading activities should know how to properly manage risk.
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my strategy is clear : BUY now with a stop loss under today daily candle 2.43. First TP on the last swing high 2.82.
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On a weekly time frame the coin is ranging with weekly higher lows and maybe an hidden bullish div on the weekly RSI. and the momentum (stochastic) is pointing up.
Like I said good buying conditions if the coin can make new weekly highs above 3.18$.
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The coin is floating on the resistance for now but no change in the trend at the moment.
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No new ATH.... yet
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To me this does not look good. That double top at ATH.
the price has reach the bottom of the range. I thought it was accumulation but by the look of it, it is much more distribution. I'm waiting for a Wyckoff check of the neckline (yellow line) then I will exit the coin.
Great charting man! Looks like we've had a break above the resistance there. Any updates on this chart? New price targets/resistance points you see the price gapping to?
DecisionDoji
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@larsontw16, Hi I'm waiting for a weekly close first.