Update to my ongoing analysis of ChainLink movements.
I last thought it might have one more leg up to go. But now it is looking less likely or at least not yet. Now at a key Fib that might shed more light for us.
The blue 2.236 fib at $2.7421 is the make-or-break line. If it goes much below, then it is likely that wave 5 is done. If it bounces from it or close, we may have one more push.
IF topped, then expect an ABC retrace to at least $2.55, likely $2.35. If NOT topped, then bulls need to move strong right now and right here. If another push, the maximum expected target is in the $3.12-3.17 area.
$2.9-3.0 Resistance is Real and Strong (see first link below). Break above $3.1 would be impressive, requiring new TA.
Of course, I have had total FAILS on some ideas too, not going to pretend. But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets. Precision is the way of the Fib. Almost every turn happens at a Fib Line.
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Extended target hit
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Zoom IN (15 min) for a closer look at that red target zone There are several different fibs in this cluster, from several different time frames. This should require a few visits to negotiate. But this rocket is not showing signs of running out of fuel.
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