LINK : A Dive before the next pump
Hello,
I see a H4 bearish divergence driving the price of LINK back down into the 19-21 region in the short term.
The target 20 coincides with the 61.8% Fibonacci retracement of the previous impulsion from 13.5 (~ July 25th) to 30.5 (mid August).
I foresee a sort a big dump in the next days that very quickly drive the price of LINK down to that region.
Followed by a sudden rebound / retracement to near current level the next week, since Sept 7th legal tender of BTC in El Salvador will bring bullish momentum to crypto market.
But then, we should see a few weeks dump the price back down to the same region, in order to make a double bottom around Sept 25th, before turning bullish again.
After Sept 25th, the 2nd impulsion should occur. Using Fibonacci impulse, the price should reach 37 by mid-October.
Sorry if chart is not very clean, bear with me this is my first one on TradingView :)
I see a H4 bearish divergence driving the price of LINK back down into the 19-21 region in the short term.
The target 20 coincides with the 61.8% Fibonacci retracement of the previous impulsion from 13.5 (~ July 25th) to 30.5 (mid August).
I foresee a sort a big dump in the next days that very quickly drive the price of LINK down to that region.
Followed by a sudden rebound / retracement to near current level the next week, since Sept 7th legal tender of BTC in El Salvador will bring bullish momentum to crypto market.
But then, we should see a few weeks dump the price back down to the same region, in order to make a double bottom around Sept 25th, before turning bullish again.
After Sept 25th, the 2nd impulsion should occur. Using Fibonacci impulse, the price should reach 37 by mid-October.
Sorry if chart is not very clean, bear with me this is my first one on TradingView :)
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