Hello Crypto Friends!

Its only been a day since i posted, but we have already seen a big move, thought i would quickly update about it.

BTC on the daily. Has broken the neckline as expected. Almost touched the 55 EMA.  Found some support at the $9250 mark.

Lets look closer.

Its creating a nice doji candle to close the last 4hr of the day. 

The MFI is look a little exhausted with the MACD also starting to taper off. So i would not be surprised if BTC came back up to test the neckline at around $9550 as previously mentioned. A test of the neckline would be a great place to enter a trade. (not financial advice!)

BTC is well on track to come down to $8500, maybe $7600. Will have to keep an eye on it!

Chainlink!

Im going to start with the 4hr here. Chainlink has already come close to testing the 4hr 200MA. It came very close to the measured move. It could well hit that $3.42 mark soon. However, the MFI and RSI are exhausted and it is in a descending channel.(normally breaks to the upside)

So looking at how i expect Chainlink to move from here. The symmetrical triangle that had formed has a measured move to the .618.

So i wouldn't be surprised if it came back up to test the descending triangle or .236 fib. before then making its descent down again. (forming some sort of wedge)

If we look at the daily -

We can see the 200 and 100 MA making their way up to the .618 area. There are also previous trend lines coming in at that area.

So, thats the update. I hope it helps!

Happy Trading!