ChainLink (LINK/BTC) Technical Analysis

As we can see in the chart, the price of LINK/BTC is following a falling wedge pattern on a 1-d chart. The upper line of the wedge has acted as a resistance. The price is near the resistance level of the pattern and can break out upwards followed by a bullish impulse with highlighted targets around 1.618 fibonacci level .

The resistance level is the 0.5 fibonacci level which is also the entry of 1-d Ichimoku bullish cloud. If the price rejects the resistance line of the pattern, it can continue to move in the wedge with 0.236 fibonacci level as the key support level.

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