#LINKBTC: retrace to 55K sat or last leg up to 130K sat first?

26. Juli 2020

LINKBTC on the verge of breaking a bullish wedge/descending triangle and defining the trend to come for the coming month. (3D chart)

Since we are in a highly bullish momentum (RSI reached 80 on the weekly, almost 88 on the 3D chart), it is still possible that it first breaks up from the bullish wedge pattern that it is forming right now (but the pattern is forming a descending triangle on the USDT pair), up to around 0,0013BTC and then probably generate a bearish divergence before retracing down (green scenario).

Or it simply continues breaking down from the pattern and goes straight testing the last resistance at around 0,00055 BTC, to claim it as a support in the coming weeks. (red scenario). I am favouring this scenario, we will know more once it breaks up or down the bullish wedge/descending triangle pattern.