Hi Everyone! Hope all of you are well today. We have already hit my 4-Day Target of the White Lower B-Band in the 4-Day TF in my previous publication posted November 2, 2020. It appears we may continue to see more downward pressure until potentially mid November, 2020. Since the Red RSI in the 2-Day is below level 50; we are at risk of the price action falling down to the Aqua/Orange Lower B-Bands in the 2-Day TF. My opinion in the video was to place the BULK of buy orders in between the White Lower and Aqua Lower B-Bands in the 2-Day TF (posted below). This is my OPINION of course.
Комментарий
⋅
UPDATE:
2-Day Time Frame:
Комментарий
⋅
UPDATE:
Well, I "should" have looked at even lower time frames on this pair. The 12h was looking primed to go back up again. Which means it would have RESPECTED the upper boundary of that Aqua Diagonal Channel once again. My bad on that one... I'll take the time to look at lower time frames next time to see if boundaries of diagonal channels may or may not be respected again FOR THE SHORT TERM time frames.
Комментарий
⋅
UPDATE:
My bad... the previous chart was the 6 hour. HERE is the 12 hour:
Комментарий
⋅
UPDATE:
A new video currently uploading. It's about 8 or 9 minutes long. I'm of the opinion we should divide our capital intended for investment in LINKl into 8 to 12 parts (10 on average) and use 2 of those 10 parts to accumulate LINK while holding onto the remaining 8 parts (on average) to see if we might get a drop to come down a bit further.
WHY? Because I'm currently not seeing this falling below $9.40. We have strong support at $9.40 in my opinion. We may not even pull back down to $9.40 again to test it.
Thanks for the update.
We also are approaching a pretty strong trendline in the linkbtc pair
Should be interesting to see if it holds right around ~63k sats or so
I agree... We are at a very strong diagonal trend line. It is POSSIBLE we respect it during this period of downward pressure. It's also possible to "wick" below it but "close" at or above it in the 2-Day time frame.
beastedz
⋅
By that last update are you saying that we may have found bottom and expect a higher low on the next pullback? Sometimes its tough to call local bottoms on link... at least ive found that it just shoots up real strong with little warning.
Look at my most recent DETAILED update of the 3-Day time frame.
legasystems
⋅
you are the hardest working person on TradingView I have seen!
I don't see how BTC can bull like that and LINK fall further. But! I will set up buy orders 7 to 7.50 in case that does happen.
I'm not sure it would fall that far. Did you notice my "opinion" of WHERE to place the BULK of buy orders?
legasystems
⋅
@WyckoffMode, yes I did. Thank you. Sometimes I just get lucky on a wick down. Lets see if it happens this time. Did you see Dave the Wave's work on BTC dominance spike? Looks like its playing out
We also are approaching a pretty strong trendline in the linkbtc pair
Should be interesting to see if it holds right around ~63k sats or so