LINK RSI Divergence, End of Uptrend?

16 Jul 2020

In the midst of BTC sideways (9300-9000), LINK has shown great performance and reaches a new high. On the 4H chart, I discover a divergence between LINK price and RSI, and I think there is a possibility of an H&S forming.

Hence I am thinking of taking a short with a setup of E:8.22 SL:9.079 TP:7.1

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16 Jul 2020

Nota

The volume is diverging too and by book, H&S will be playout with the decrease of volume as the H&S forming.

17 Jul 2020

Nota

LINK uptrend seems to come to consolidation, the 8.275is area serve as the support, let's wait for strong bearish candle to close below it before taking short.

18 Jul 2020

Nota

The drop has started

19 Jul 2020

Nota

We have broken the previous support 8.4, it is the time to break 7.8.

20 Jul 2020

Nota

As long as Chain doest regain it strength, 6,8 is possibke

21 Jul 2020

Nota

Another drop

21 Jul 2020

Nota

I could see LINK would testing 7.0 soon

21 Jul 2020

Nota

We are on the 2nd last support of ChainLink from the last upward movement. And from the RSI we could see a pullback has occurred, the possibility for RSI to rise, for those who want to BUY now is the chance. The current drop in price is needed ChainLink has gone to far and needed to be corrected.

For those following this signal from the beginning (8.2is area or higher) Remember to Take Profit, dont let your greed control you.

21 Jul 2020

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I am sitting out of this trade now.

22 Jul 2020

Nota

If RSI could hold its position, I will post a Long Setup ASAP

22 Jul 2020

Nota

I think the price will go Sideways, so don't worry we won't miss the next bull run

22 Jul 2020

Nota

LINK cloud be ranging between 7.6 and 7.1 STAY ALERT