White line is MVC's entry price.
LINK/USDT seems to have respected the daily 9s quite well in the past. Beautiful bounce off this last "9 buy" which also happened to be a reversal type candle. While we were nowhere close a new daily swing low, we almost had a new closing low which wouldn't have been a good sign. The stochastic RSI has also flipped and is exiting the the oversold territory--a bullish sign. However, with the reversal on the "9 buy" all I can expect for now is a 1-4 candle correction (which we are in the middle of) before a continuation of this down trend. Additionally, the death cross of the 50 and 128 SMAs is reason to be weary and we are still below the 200 SMA. Unless we are able to rally and close above the last swing high line shown in red which matches up with the 128 SMA (and ideally over $34), I cannot be a bull on the short term daily scale yet.
LINK/USDT seems to have respected the daily 9s quite well in the past. Beautiful bounce off this last "9 buy" which also happened to be a reversal type candle. While we were nowhere close a new daily swing low, we almost had a new closing low which wouldn't have been a good sign. The stochastic RSI has also flipped and is exiting the the oversold territory--a bullish sign. However, with the reversal on the "9 buy" all I can expect for now is a 1-4 candle correction (which we are in the middle of) before a continuation of this down trend. Additionally, the death cross of the 50 and 128 SMAs is reason to be weary and we are still below the 200 SMA. Unless we are able to rally and close above the last swing high line shown in red which matches up with the 128 SMA (and ideally over $34), I cannot be a bull on the short term daily scale yet.
