Link looking ready to move.... dump or pump?
Thoughts provided in the text bubbles on the charts. No clear conclusion can be made by looking at these three time frames. There is upward pressure but the indicators show to me that link is set up to dump... Therefore we must look at more time frames to see if we can get a different view and a more clear idea of what is to come.
The areas marked are to compare present day to what looks to be a very similar situation that occurred just recently.
I will provide the update here
The areas marked are to compare present day to what looks to be a very similar situation that occurred just recently.
I will provide the update here
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Here are three more time frames so we can get a different perspective of where we are heading
Overall There is certainly upward pressure in the mid to long term time frames. I'm under the impression that if we see a dip today it will simply be a short term dip, not the same slow bleed we saw last time we were in a similar situation.
Why?
The higher time frames have developed a stronger bullish technical set up. The most significant difference being what I mention in the 6d.
If we get a good dip I will be looking to long assuming nothing too substantial changes.
Overall There is certainly upward pressure in the mid to long term time frames. I'm under the impression that if we see a dip today it will simply be a short term dip, not the same slow bleed we saw last time we were in a similar situation.
Why?
The higher time frames have developed a stronger bullish technical set up. The most significant difference being what I mention in the 6d.
If we get a good dip I will be looking to long assuming nothing too substantial changes.
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update. currently in a race between 6h and 12h to see if this move will be sustained
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Upward pressure should continue.
Upward pressure should continue.
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I would be careful fomoing in. If not in a margin long position already we must be patient and wait for a pullback. Then we can long/ladder up on the pullback to create a safer entry.
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Another quick update. Im still seeing a decent pullback between the 3h and the 6h. When the energy in the 6h exhausts we will be on the lookout to enter a long position if everything looks good.
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Its not a bad idea to DCA into a long on these pullback in the lower time frames due to the upward pressure we see in the 12h and 1d time frames
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looking to find this basis as support. Thinks its a good area to buy
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Good buy area indeed. hope you guys got in ;)