LINKUSDT Weekly S/R| Bullish Retest| Declining Volume| PA
Points to consider.
Observing LINKUSDT’s chart above, a clear Bullish Volatility Expansion is present, breaking above Weekly S/R levels with conviction. The initial Weekly Range was broken bullish with a confirmed S/R Flip retest allowing for a new high to be set. This was indicative of strength as Price Action at the time was very impulsive.
The Volume Profile has a clear climatic node indicating a potential temporary top being set. A Volume Climax is usually a sign of the order books being cleared at the time, Price Action as of now is trying to find its equilibrium between Supply and Demand. The Declining Volume is suggestive of this, the more this progresses, the greater to probability of an influx.
The immediate objective is Swing High that is in confluence with the 1.618 Fibonacci Extension Target, Price Action as of current has rejected from this level. A reversion to the, .382 Fibonacci Retracement, will allow for potential long biased entries. Exceeding Swing High will put LINKUST back into price discovery with extended Fibonacci Targets,
Observing LINKUSDT’s chart above, a clear Bullish Volatility Expansion is present, breaking above Weekly S/R levels with conviction. The initial Weekly Range was broken bullish with a confirmed S/R Flip retest allowing for a new high to be set. This was indicative of strength as Price Action at the time was very impulsive.
The Volume Profile has a clear climatic node indicating a potential temporary top being set. A Volume Climax is usually a sign of the order books being cleared at the time, Price Action as of now is trying to find its equilibrium between Supply and Demand. The Declining Volume is suggestive of this, the more this progresses, the greater to probability of an influx.
The immediate objective is Swing High that is in confluence with the 1.618 Fibonacci Extension Target, Price Action as of current has rejected from this level. A reversion to the, .382 Fibonacci Retracement, will allow for potential long biased entries. Exceeding Swing High will put LINKUST back into price discovery with extended Fibonacci Targets,
