$LINK W1 Bullish Idea.
Revisiting my previous analysis on $LINK last 27th of November last year, the upward movement has seen a rejection from the 50% key resistance trendline and has masterfully made a downtrend respecting the 38-50% fan zone.
Bullish on the fact that it bounced from the POC and has held on to a conso phase in macro view.
Level to watch for a solid bullish confluence here is a sustain above the VAH currently valued at $12.753, that would also lead to EMAs curving up for a potential GX if bullish momentum picks up by then.
Previous drawn bearish ABCD pattern retracement still remains, but with a Fib measurement of its recent macro downtrend, the tap would be likely towards the 162% extended Fib level.
Pattern invalidation is far from reality right now in my opinion as price would need to break the CD leg bottom at $4.689.
