LINK/USD Elliott Wave technical analysis
LINK/USD daily chart
Function: Counter Trend.
Mode: Corrective.
Structure: Double Corrective.
Position: Wave Y.
Direction next higher degrees: Wave ((II)) of Impulse.
Wave cancel invalid Level: 8.498.
Details: Wave (II) is likely to have ended and prices are resuming the uptrend.
ChainLink/ U.S. dollar (LINKUSD) Trading Strategy: ChainLink overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.
ChainLink/ U.S. dollar (LINKUSD) Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
LINK/USD four-hour chart
Function: Counter Trend.
Mode: Corrective.
Structure: Double Corrective.
Position: Wave Y.
Direction next higher degrees: Wave ((II)) of Impulse.
Wave cancel invalid level: 8.498.
Details: Wave (II) is likely to have ended and prices are resuming the uptrend.
ChainLink/ U.S. dollar (LINKUSD) trading strategy: ChainLink overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend.
ChainLink/ U.S. dollar(LINKUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.
Chainlink Elliott Wave technical analysis [Video]
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