LINK (Prj.Y19.P01.E01).MACRO.Level.TA

This will be my first on LINK TA and I'll keep it short for now and let the chart do all the talking.

For more granular details, refer to the 4 HRLY Chart.

Note: There is a possibility that BTC does another bounce off the 7900 range (a small bounce) and hence ChainLink (LINK) can also correspond.
I say its less likely to happen at this stage with the market having a BEARISH overview.

4 HRLY Chart and how fib.fan lines help identify support and resistance pivot points. Note the many possibilities on the way down.

NOTE:
I am interest in ADA, EOS, ETH, BCH and LINK at the Macro level, especially when BTC has a downward trend. Why?
I have noted that when BTC hits the bottom, these and some other ALTs perform much better on the way up, until a certain point.
I will hopefully know when to flip, if this was to happen again.
Hence I will also do TA on ADA, EOS and ETH later on.
I also would like to see how accurate I was for future reference, to reflect and learn the lessons each time.



Cheers,
S.Sari

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Chart update

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Reasoning for chart lines. I'm a fan of the fib.fan when it comes to the micro level. Its not only about horizontal support and resistance. As you know, there are channels and formations and the fib fan helps find those lines. So far so good. I have tweaked the lines ever so slightly to match the true line. Hence I see the price go down bouncing on this fib.fan support and resistance lines. Depending on how BTC goes, I will cross reference that with this chainlink line to confirm if the BUY ZONE i highlighted makes sense.

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My BTC micro level chart

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Its hit the mark\upper resistance, now we need to see what is the response. I'm looking for BEARISH or BULLISH div. amoungst other things

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Price Chart progress update (also if required, tweak the chart with confirmations)

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On the Daily Chart

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Chart progress update

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Final outcome