Fractal shows bearish short term before rallye to 70 dollar?
I expect more downwards before we see better days.
We reached the 0.618 fibonacci level on the last retracement only by one daily wick. So we actually didn't made it above 0.5 on the daily chart what is kinda bearish in my opinion. Beside the down trend for about one month (check the lower highs on the daily chart). We are hanging on the 0.236 level right now. Also check LINK-BTC and LINK-ETH. Too many points that shows recent weakness.
I also watch a fractal on the daily chart for some time. This still looks kinda accurate so far. This could bring us to 20 dollar before we rallye up to above 70 dollar. I could also imagine a flash crash to around 16.60 dollar and a quick recovery afterwards. At 16.60 there meets a horizontal and a trendline support. The fractal also shows a nice "W" in the chart, what supports the idea. The fractal also fits nicely into the fibonacci retracement. Watch the levels the fractal hits. – Though history (fractals) is of course no guarantee for future.
This is only meant as an IDEA that shows an reasonable possibility and that shows off, not every swing to the downside must cause panic. It could recover nicely.
But either way I keep to my plan and hold my bags even if this doesn't work out. I feel confident with LINK and I have trust in the whole project in the long run.
We reached the 0.618 fibonacci level on the last retracement only by one daily wick. So we actually didn't made it above 0.5 on the daily chart what is kinda bearish in my opinion. Beside the down trend for about one month (check the lower highs on the daily chart). We are hanging on the 0.236 level right now. Also check LINK-BTC and LINK-ETH. Too many points that shows recent weakness.
I also watch a fractal on the daily chart for some time. This still looks kinda accurate so far. This could bring us to 20 dollar before we rallye up to above 70 dollar. I could also imagine a flash crash to around 16.60 dollar and a quick recovery afterwards. At 16.60 there meets a horizontal and a trendline support. The fractal also shows a nice "W" in the chart, what supports the idea. The fractal also fits nicely into the fibonacci retracement. Watch the levels the fractal hits. – Though history (fractals) is of course no guarantee for future.
This is only meant as an IDEA that shows an reasonable possibility and that shows off, not every swing to the downside must cause panic. It could recover nicely.
But either way I keep to my plan and hold my bags even if this doesn't work out. I feel confident with LINK and I have trust in the whole project in the long run.
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