LINKBTC Potential to Drop Near Term
In the 2d and 3d timeframes, the LINKBTC pair looks quite overextended. Especially in the 3d where the Green Line is significantly higher than the White Energy, and the Blue LSMA at close to the 100 level. This usually results in a sharp fall of the Green Line to the 50 level which may happen anytime.
In the 2d timeframe, the Green Line has also turned down and crossed the Red RSI, indicating downward pressure. The Blue LSMA is also at a high level, indicating that a pullback may soon occur.
The first support for this pullback should be the 2d Yellow Basis, currently around 0.00075. If we fall further, then the next support will be the 3d Yellow Basis, currently at 0.00069. Take note that since this is the near term timeframe, the pullback may take some time to occur. The Yellow Basis value will also increase as new candles form. My estimate is a pullback to 0.0008 minimum, corresponding to the Green Trendline of my Pitchfork.
In the 2d timeframe, the Green Line has also turned down and crossed the Red RSI, indicating downward pressure. The Blue LSMA is also at a high level, indicating that a pullback may soon occur.
The first support for this pullback should be the 2d Yellow Basis, currently around 0.00075. If we fall further, then the next support will be the 3d Yellow Basis, currently at 0.00069. Take note that since this is the near term timeframe, the pullback may take some time to occur. The Yellow Basis value will also increase as new candles form. My estimate is a pullback to 0.0008 minimum, corresponding to the Green Trendline of my Pitchfork.
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