Hello Traders Investors And Community,
Welcome to this update-analysis about LINKUSD , we are looking on the 2-hour timeframe perspective, the recent events, the current formational structure, what we can expect the next times and how to possibly handle the situation. Since previous analysis LINKUSD has moved on with the wave-count within the ascending-wedge-formation and finally confirmed the second resistance S2 from where it formed this heavy move to the downside to the point where it now already tested the 400-EMA in the structure, if you did not see this analysis I highly recommend it to watch to have a full-depth-overview, now as LINKUSD has formed the pullback from S2 as expected there are other significant signs I detected in the structure worthwhile to look at currently, therefore we are looking at the important levels and likely outcomes upcoming times.
As when looking at my chart we can watch there how LINKUSD tested the important EMA-structure and is now mingling there however it is still not below the lower-boundary of the ascending-triangle-formation firstly such move below the boundary will complete the whole formation and point to the next continuations. These continuations will establish when LINKUSD moves below the lower-boundary and also consolidated between the EMAs to setup and move on with the pace from there, when such price-action shows up LINKUSD will continue till the lower ascending-trend-line is reached where it has the potential to reverse however when this does not happen and LINKUSD increases with pace it will continue with the pressure below the ascending-trend-line and visit lower levels from there, for now we should not underestimate the perspectives here and elevate how LINKUSD moves on when it reaches the supports.
In this manner, thank you for watching the analysis, have a good day and also good trading, all the best!
“The eyes only see what the mind is ready to comprehend.”
Information provided is only educational and should not be used to take action in the markets.