Chainlink (LINKUSD) Elliott Wave Technical Analysis 28 October 2022

[tradinglounge]

Chainlink (LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Triangle

Position: Wave (E)

Direction Next higher Degrees: Wave ((Y)) of Double Corrective

Details: The price tends to rise in the E wave of the triangle. Upon completion, the

price will drop again in wave V.

Wave Cancel invalid Level: 7.363

Chainlink (LINKUSD) Trading Strategy: The triangle pattern tends to end. And the price

will drop again in wave V, resulting in a tendency to trade below 5.311. This could be an

opportunity to open a short position. but the price must not reverse more than 7.363

Chainlink (LINKUSD) Technical Indicators: The Price is below MA200 and MAS50 Line

Bearish trend, MACD below Zero-Line is Bearish Momentum.

Tradinglounge analyst: Kittiampon Somboonsod

 

 

 

Chainlink (LINKUSD)

LINKUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Triangle

Position: Wave (E)

Direction Next higher Degrees: Wave ((Y)) of Double Corrective

Details: The price tends to rise in the E wave of the triangle. Upon completion, the

price will drop again in wave V.

Wave Cancel invalid Level: 7.363

Chainlink (LINKUSD) Trading Strategy: The triangle pattern tends to end. And the price

will drop again in wave V, resulting in a tendency to trade below 5.311. This could be an

opportunity to open a short position. but the price must not reverse more than 7.363

Chainlink (LINKUSD) Technical Indicators: MACD has hidden bearish divergence and MACD

Histogram has hidden bearish divergence The price has a chance to turn into a downtrend.