LINK is due for a big retrace. (Large Rising Wedge)
LINK has done a massive run recently and has found some resistance around the 26 dollar area. It is trading in quite a large rising wedge pattern which in theory is bearish and seeing that LINK has had a massive run we can certainly see a correction happening anytime soon.
The 4hr ichimoku cloud has acted as proper support during this run and a break of this pattern will see LINK trading inside this cloud. If this happens and the bulls don't regain control fast enough we can see an extended correction.
This is still early days and LINK might also test the top of this channel again.
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Disclaimer: The content covered in this channel is NOT to be considered as investment or trading advice.
I am NOT a financial adviser. These are only my own speculative opinions, ideas, theories, hypotheses and trade setup ideas on the market. The content posted in this channel is purely for entertainment purposes only and the information is NOT to be used or replicated by others.
The 4hr ichimoku cloud has acted as proper support during this run and a break of this pattern will see LINK trading inside this cloud. If this happens and the bulls don't regain control fast enough we can see an extended correction.
This is still early days and LINK might also test the top of this channel again.
-
-
-
-
-
-
-
-
-
-
Disclaimer: The content covered in this channel is NOT to be considered as investment or trading advice.
I am NOT a financial adviser. These are only my own speculative opinions, ideas, theories, hypotheses and trade setup ideas on the market. The content posted in this channel is purely for entertainment purposes only and the information is NOT to be used or replicated by others.