LINKUSD - Diamond formation 09/10/21
Updated
LINK is potentially in a diamond formation on the lower timeframes. The volume signature is consistent with expectation of the pattern. Measured price targets for confirmed, perfect breakout are shown for either side (~6.5%)
This pattern follows on from an ascending triangle breakout, which has not yet hit its measured price target.
BBWP is at the lows (volatility is extremely low), which means any breakout here could manifest into a longer term move if it gains traction. RSI is also bouncing along 50 and remaining in the bullish zone, with a slight tick upward currently. We should see a large spike in volume if this successfully breaks out to the upside.
This is not financial advice, and always DYOR.
This pattern follows on from an ascending triangle breakout, which has not yet hit its measured price target.
BBWP is at the lows (volatility is extremely low), which means any breakout here could manifest into a longer term move if it gains traction. RSI is also bouncing along 50 and remaining in the bullish zone, with a slight tick upward currently. We should see a large spike in volume if this successfully breaks out to the upside.
This is not financial advice, and always DYOR.
Note
Seems to have broken downwards, but may flip previous res from the ascending triangle into support.Note
This has been a juicy roadmap if you followed the targets and bounces for the respective patterns. Solid bounce off the 29.468, very possible strong continuation now if the market moves up as a whole.Note
errrrrr NGU
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