Link ascending triangle

21 feb 2020

Link is in an ascending triangle. This pattern usually breaks bullish, and Link has been trending bullish for a long time. I expect it to follow the trend and break bullish. The top of the triangle is at around $5, near a psychological resistance and all time high. Right now, Link is hitting the bottom of the triangle as the RSI is cooling off from a large rally. We could hit prices as low as $4.15 before bouncing upward and retesting the top of the triangle again. Link seems to be in a similar pattern as Ethereum, which is also in an ascending triangle. Overall, the markets seem bullish with the two largest market cap players. Bitcoin is in a cup and handle formation (see my previous chart), and Ethereum is in an ascending triangle. Link will hopefully feel the momentum of that overall market shift upward, sometime by March.