LINK.USD near term UPDATE: tight range breakout could Run Hard

27 Eki 2019

Part of my ongoing analysis of ChainLink (see links below).

LINK has pulled back, and currently confined in a narrow range.
Breakout from this range to either side could accelerate rapidly.
My guess is one more leg down, perhaps a spike to take out stops.

For pattern traders the recent "Double Top" or "Tweezer Top" is very bearish.
Wyckoff traders call this range a "reAccumulation" or "reDistribution" phase.
I await a breakout to either side and will gauge sentiment at that time.

Previous LINK analysis:
$2.65 Support Call (still in play)
recent Impulse Redux (caught a retrace)
$2.7xx target plotted (perfect roadmap)
Support/Bounce zones (caught recent bottom)
Breakout Zones plot (caught the breakout)
May 2019 support zones (caught all turns)
$1.46 Bottom Call (caught exact bottom)

28 Eki 2019

Not

Breakout in Progress

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28 Eki 2019

Not

Broke out and running hard as expected

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28 Eki 2019

Not

So we came back to previous Resistance to confirm as New Support and are continuing the uptrend

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