On the above 12 day chart price action has rallied almost 300% since the lows of 2023. A number of reasons now exist for a bearish outlook. They include:
1) Broken RSI and price action support.
2) The RSI 50 level is an incredibly important level for chainlink overall. Look left. Red arrows. Rejection from 50 has never been a good thing for price action with the smallest correction at 30%.
3) The bear flags. They are exactly the same, width, angle. A new candle will print on Friday 16th of August. The candle body MUST print inside the flag to prevent confirmation.
4) Confirmation of no. 3 results in a forecast to the $2.50 area.
Is it possible price action stops current correction? Sure.
Is it probable? No
Ww
1) Broken RSI and price action support.
2) The RSI 50 level is an incredibly important level for chainlink overall. Look left. Red arrows. Rejection from 50 has never been a good thing for price action with the smallest correction at 30%.
3) The bear flags. They are exactly the same, width, angle. A new candle will print on Friday 16th of August. The candle body MUST print inside the flag to prevent confirmation.
4) Confirmation of no. 3 results in a forecast to the $2.50 area.
Is it possible price action stops current correction? Sure.
Is it probable? No
Ww
Trade ativo
The first support or bonce should be expected at $8.
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Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.