Is LINK leading the way to Bitcoin downside?
Welcome!
I´ll keep it short. What we have with LINK on the daily is a perfect HMA sell signal. Of course this doesn´t mean the signal will always play out but let´s just say when I see such a signal I absolutely respect (and trade) it.
And it would make sense, if you look at the 12H timeframe, there has been a strong bearish divergence forming for basically the last couple of days, indicating that the entire range has been distribution.
With Bitcoin halving coming up today it seems more than likely it will result in sell - off´s across the entire crypto market - miners will be rewarded less for their work which means they will be forced to sell their Bitcoin at the highest possible price to stay afloat.
The only logical question therefore is: can the market absorb it?
Thank you for reading, take care.
I´ll keep it short. What we have with LINK on the daily is a perfect HMA sell signal. Of course this doesn´t mean the signal will always play out but let´s just say when I see such a signal I absolutely respect (and trade) it.
And it would make sense, if you look at the 12H timeframe, there has been a strong bearish divergence forming for basically the last couple of days, indicating that the entire range has been distribution.
With Bitcoin halving coming up today it seems more than likely it will result in sell - off´s across the entire crypto market - miners will be rewarded less for their work which means they will be forced to sell their Bitcoin at the highest possible price to stay afloat.
The only logical question therefore is: can the market absorb it?
Thank you for reading, take care.
Comment:
Comment:
Comment:
After consolidating for a few days it seems LINK has managed to find its footing again. I´m not entirely convinced this is bullish but at the moment it doesn´t look bearish either so I think this idea has been invalidated for the time being
The HMA sell is about to be nullified as well
The HMA sell is about to be nullified as well