Elliott Wave Technical Analysis: ChainLink Crypto Price News For Thursday, Aug 8
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Elliott Wave Analysis TradingLounge Daily Chart
ChainLink/ U.S. dollar(LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Direction Next higher Degrees: Wave ((II)) of Impulse
Wave Cancel invalid Level: 8.498
Details: Wave (II) is likely to have ended and prices are resuming the uptrend.
ChainLink/ U.S. dollar(LINKUSD)Trading Strategy:
ChainLink overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III). So wait for the correction to complete to rejoin the uptrend.
ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge H4 Chart
ChainLink/ U.S. dollar(LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Counter Trend
Mode: Corrective
Structure: Double Corrective
Position: Wave Y
Direction Next higher Degrees: Wave ((II)) of Impulse
Wave Cancel invalid Level: 8.498
Details: Wave (II) is likely to have ended and prices are resuming the uptrend.
ChainLink/ U.S. dollar(LINKUSD)Trading Strategy:
ChainLink overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III). So wait for the correction to complete to rejoin the uptrend.
ChainLink/ U.S. dollar(LINKUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bearish Momentum.
Technical Analyst: Kittiampon Somboonsod, CEWA
Source: Tradinglounge.com
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