LINK.USDT\BTC (Y20.P3.E4).TA on the Macro structure

2020년 7월 31일

Hi all,

My thoughts on LINK both USDT and BTC pairing.

My thoughts are:
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> LINK.USDT < based on the below chart, on the right plain
Based on my chart, we have a typical channel bull flag, as per chart and its found the fib. level 0.5 a area of demand and the 0.382 as support
On the daily, and longer time frames 2D, 3D etc the upward pressure is still there. However the weekly its dropping of

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> LINK.BST < based on the below chart, on the left plain
* I see a temporary rally against bitcoin while BTC consolidates (forming a bull-flag likely a wedge or pennant) for another leg up to 12K +

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Snapshot of LINK.USDT a bit early in the day when I planned to draft this post (ref. below I.Charts)


I believe for what ever comes to BTC top this year will be wave 5 followed by ABC or 123 downward impulse (correction) then to start the next wave up of the macro structure, from 2 to 3 point of the elliot wave.
Hence my thoughts is that many of the ALTs have made their top in this cycle and the remaining time will be the 123 impulse to find the bottom while BTC does the same.

Note, I did buy into LINK today with the understanding that it will fall short or double top before sliding further down as the previous cycles as shown on the main chart.

Please give me a like or tick for this post


Regards,
S.Sari




BTC fractal


My PREVIOUS LINK.BTC chart posted

2020년 8월 2일

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Chart update

2020년 8월 2일

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reference: A.Charts

2020년 8월 2일

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Just an observation:
The bounce at 7 dollars was strong and shows that there is alot of demand or interest at that level. Hence I don't see at this point, LINK dropping price for some time. The only way this will occur is further dumps with BTC and that is unlikely any time. Hence the price might go above the previous level before it drops.

2020년 8월 4일

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Keeping track of the price movement, so it hit the top of the channel which will be a strong resistance area.

2020년 8월 4일

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Turned into a big bull flag > $10, $11, $12 being the targets.

2020년 8월 5일

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Bearish div. likely to take place, which fits into my model\hypothesis.
" Despite the massive gains posted, LINK looks bound for a steep correction
One of the biggest significant support barriers underneath this token sits between $7.4 and $8.7, which could prevent a further fall"

2020년 8월 7일

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2020년 8월 9일

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2020년 8월 12일

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Update to the original chart

2020년 8월 12일

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Its starting what looks like another Parabolic curve pattern.