LINKUSD; Trends & Triangles
LINK on the 4hr chart, has shown nice triangle formations leading to breakouts during its continuing uptrend. We also have the 50MA / 200MA crossover back on 4-9-20, the 50MA crossing to the upside as an upward 'guide line' for this strong uptrend.
On the RSI, (currently at about 57.2 which is great to see, plenty of upside room) we also have a well defined triangle that has formed over the full length of the uptrend. I've heard this RSI triangle could mean hidden bearish divergence, but during a strong uptrend, it will be ignored and invalidated.
My gut feeling is we continue on the uptrend with another triangle break out upward to about 4.15 or higher.
Let's see what happens, I feel stronger on the uptrend for sure than a downtrend. Unless BTC starts to change direction, (which also seems poised to hit 8000 next), LINK, XTZ, ETH and other Alts should also keep going up as well.
On the RSI, (currently at about 57.2 which is great to see, plenty of upside room) we also have a well defined triangle that has formed over the full length of the uptrend. I've heard this RSI triangle could mean hidden bearish divergence, but during a strong uptrend, it will be ignored and invalidated.
My gut feeling is we continue on the uptrend with another triangle break out upward to about 4.15 or higher.
Let's see what happens, I feel stronger on the uptrend for sure than a downtrend. Unless BTC starts to change direction, (which also seems poised to hit 8000 next), LINK, XTZ, ETH and other Alts should also keep going up as well.
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