Update on the LINKBTC outlook

9 lug 2020

In May I posted this idea expecting a strong bullish break-out on LINKBTC from its Triangle:

For reference take a look at this too:

It happened as planned and now it is time to give an update as the rise has been very strong and already hit the inner Higher High trend-line (red dashed) of the 2 year Channel Up, which can be seen also as an inner Rising Wedge.

Based on the break-out on the previous Triangle, LINKBTC is either on the first peak (which pulled back to the 1D MA20 and rebounded) or the second and final peak (which pulled back to the 1D MA200 and rebounded). See the blue flags. It is obvious that in any case it is best to wait for a pull back before buying again. As long as the dashed lines of the inner Rising Wedge hold and the 1D MA200 works as a rebound point, the action is 'buy-the-dip'.

For reference, have a look at my November 2019 idea, which played out to exactly as planned:

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **