All Time HIVE and hodl, dear members of LeoFinance!
Today, I would like to comment on the price chart of Chainlink.
After forming a Double Top (common trend reversal pattern), in the weekly chart (1W), LINK/USD has formed a sequence of three mid-size bearish candlesticks:
These three bearish candlesticks have lower highs and lower lows respectively - a clear confirmation that the bearish pressure continues.
Because of the price correction, LINK/USD has dropped to the trend line in the 1-day chart (1D):
As can be seen from the chart, the uptrend still remains in place but, now, the price is starting to test the trendline. That's why this is a critical moment for the stability of the uptrend.
To be continued ...
As of the time of writing, one LINK costs $19,02 on the Binance crypto exchange, according to TradingView.
A few words about me:
Just to let you know: I've been working professionally as a currency analyst for the last 15 years, and as a cryptocurrency analyst for the last 4 and a half years.
Important!
Keep in mind, that thoughts expressed here are my own, and they should not be regarded as recommendations for any cryptocurrency/commodity trades, investments and etc.
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