$LINK
Compression of Short Moving Averages: The MA(7) ($11.377) and the MA(25) ($11.405) crossed downward and are compressing the candles in the current area. The price is unable to make consecutive closes above $11.40.
MA(99) Shadow: The 99-period moving average has been declining from $11.577. As long as LINK stays below that line, any attempt to rise is still classified as a technical bounce within a short-term bearish channel.
Critical Floor to Defend: The immediate operational support is at the wick around $11.250. If that area holds, the price will maintain the sideways structure; if it breaks, it will look for liquidity lower down toward $11.10.
Likely Scenarios
Technical Bounce: To reach again the upper part of the range ($11.48 – $11.57), the price must break and close a 15m candle with volume above $11.41.
Breakdown: If the sideways movement breaks the $11.250 support, it will move on to a new sweep of positions in the $11.10 area.
In conclusion, the current structure requires patience.
$NVDAB $BTC
Compression of Short Moving Averages: The MA(7) ($11.377) and the MA(25) ($11.405) crossed downward and are compressing the candles in the current area. The price is unable to make consecutive closes above $11.40.
MA(99) Shadow: The 99-period moving average has been declining from $11.577. As long as LINK stays below that line, any attempt to rise is still classified as a technical bounce within a short-term bearish channel.
Critical Floor to Defend: The immediate operational support is at the wick around $11.250. If that area holds, the price will maintain the sideways structure; if it breaks, it will look for liquidity lower down toward $11.10.
Likely Scenarios
Technical Bounce: To reach again the upper part of the range ($11.48 – $11.57), the price must break and close a 15m candle with volume above $11.41.
Breakdown: If the sideways movement breaks the $11.250 support, it will move on to a new sweep of positions in the $11.10 area.
In conclusion, the current structure requires patience.
$NVDAB $BTC
