LINKUSD Elliott Wave Technical Analysis 12 December 2022
4 Hour
Chainlink / U.S.dollar(LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave 5
Direction Next higher Degrees: Wave 1 of Impulse
Details: The decrease in wave 5 has a trend trade below 6.282
Wave Cancel invalid Level:9.480
Chainlink / U.S.dollar(LINKUSD)Trading Strategy: Chainlink is still under selling pressure as the price remains below the MA200 and MA50, but it has started showing signs of recovery from the 5.525 level. The view is still a pullback to continue down, as the price structure in Impulse is still missing three more waves. so overall It is still a pullback to go down.
Chainlink / U.S.dollar(LINKUSD) Technical Indicators: The price is below the MA200 MA50, indicating a downtrend. The wave oscillators below a Zero-Line Momentum are bearish
Daily
Chainlink / U.S.dollar(LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave V
Direction Next higher Degrees: Wave (C) of Zigzag
Details: The decrease of wave V has a trend to trade below 5.311
Wave Cancel invalid Level:9.480
Chainlink / U.S.dollar(LINKUSD)Trading Strategy: Chainlink is still under selling pressure as the price remains below the MA200 and MA50, but it has started showing signs of recovery from the 5.525 level. The view is still a pullback to continue down, as the price structure in Impulse is still missing three more waves. so overall It is still a pullback to go down.
Chainlink / U.S.dollar(LINKUSD) Technical Indicators: The price is below the MA200 MA50, indicating a downtrend. The wave oscillators slow the increase
