LINKUSD Elliott Wave Technical Analysis February 18 2023
4Hour
Chainlink /U.S.dollar(LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave (2)
Direction Next higher Degrees: Wave ((3)) of Motive
Details: Retracement of wave ((2)) usually .50 or .618 x Length wave ((1)) at 6.936
Wave Cancel invalid Level: 6.430
Chainlink /U.S.dollar(LINKUSD)Trading Strategy: The downtrend is likely to end at the level of 5.386. Also, the price was able to cross the MA200 line, which is a good signal to change the trend. Recently, the price is in the structure of the third wave in impulse, but since it is the first phase of the rally, the price has a chance to reverse in wave (2) before rising again.
Chainlink /U.S.dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators above Zero-Line momentum are bullish
Daily
Chainlink /U.S.dollar(LINKUSD)
LINKUSD Elliott Wave Technical Analysis
Function: Follow trend
Mode: Motive
Structure: Impulse
Position: Wave ((3))
Direction Next higher Degrees: Wave I of Motive
Details: Wave 3 is equal to 1.618 multiplied Length of wave 1 At 10.32
Wave Cancel invalid Level:6.430
Chainlink /U.S.dollar(LINKUSD)Trading Strategy: The downtrend is likely to end at the level of 5.386. Also, the price was able to cross the MA200 line, which is a good signal to change the trend. Most recently, the price is in the structure of the third wave in the impulse that is likely to trade above the level of 10.302.
Chainlink /U.S.dollar(LINKUSD)Technical Indicators: The price is above the MA200 indicating an UpTrend. The wave oscillators above Zero-Line momentum are Bullish
