Hello Crypto Friends!

Daily update on these coins -

BTC Daily-

Closed just below the 200MA, as of yet there has been no sign of relief for the bulls.

There has been no backtest of the neckline yet either. 

The next level of support would be the 0.5 fib at $8450. Maybe this is the first bounce area, with a backtest of the 200MA?

The MFI is in the critical zone, however the RSI still has room to move down.

Lets zoom in -

So we have the target for the Head and Shoulders at the Golden Pocket! 

The RSI on the 4hr is showing exhaustion, i imagine that as we move down to that 618 we start to put in divergences.

The same goes for the MFI.

Keep an eye out for a descending wedge to form around that area -

Maybe something like this.

Also on the big picture-

This will be a test of the trend line / bottom of symmetrical triangle. This could be the opportunity of a lifetime to get a long position to hold for the next year or more!!!! Not financial advise. But for me i am putting in a big trade here!

Chainlink-

Wow has Chainlink shown some strength!

While BTC kept dumping, Chainlink actually had a little pump and tested its daily 21 EMA.

MFI is still in bullish control zone and the RSI is kinda neutral/bearish.

As predicted yesterday, the wedge is forming. The 4hr 200MA is holding as support for now. 

I imagine a drop to the Golden Pocket is on the cards, a dip below the dotted trend line, to the daily 100 or 200 MA.

Then its off to the races again for this beast!

Happy Trading!