Chainlink Elliott Wave technical analysis [Video]

LINK/USD Elliott Wave technical analysis

LINK/USD daily chart

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), waiting 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.

LINK/USD four-hour chart

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), waiting 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.

Chainlink Elliott Wave technical analysis [Video]