We were bullish on Chainlink for a little while. We were looking at the 15 level for bullish price action. Price went a little lower than we expected and went to 14.00 level which was previously the impulse generation point - where the major impulse of 2021 started.
We are now making our way back up and we have 2 key structure levels which we are looking at.
First Structure level is the 26 level. If we reject that price, we could see ChainLink come back down to test the lows. If we pass that level, we can look for a retest and gain an entry to this to atleast the 34 level where we have our second structure level.
A break of the ascending trendline would mean that there isn't enough bullish pressure to take ChainLink higher and we can look for shorting opportunities back to the bottom.
We are now making our way back up and we have 2 key structure levels which we are looking at.
First Structure level is the 26 level. If we reject that price, we could see ChainLink come back down to test the lows. If we pass that level, we can look for a retest and gain an entry to this to atleast the 34 level where we have our second structure level.
A break of the ascending trendline would mean that there isn't enough bullish pressure to take ChainLink higher and we can look for shorting opportunities back to the bottom.