LINK REVERSAL?

2020年11月7日

Hi fellow traders,

It seems we are entering the last phase of a descending wedge (in a normal chart it would be ascending wedge keep that in mind).

For the next week we will see a clear direction where the LINK market wants to go. As you can see on the chart we had fake breakout to the up side and came back to the wedge support line. Making me siding more with the bulls.

BUT

In August and September, we had a massive pullback after bull run. I believe that It will follow the same path as 2019 correction. This scenario may be wrong because bitcoin just started his bull run and we have yet to see what link can do in bitcoin bull run.

I am newbie in technical chart analysis so I wonder what you guys think about this.

Any feedback would be great.