LINKUSDT Analysis by @pipsnipers

The analysis focuses on Chainlink (LINKUSD). Starting from 2021, an ABC correction is identified, leading to the completion of wave one in February 2024. A flat pattern is noted with the C wave reaching the 0.786 Fibonacci level. An inverse head and shoulders pattern emerges, utilizing the neckline as support. A 4-hour push above the trendline is desired, specifically above 17.30, to confirm the bottom. Conversely, dropping below 11.83 or 12.46 invalidates the bottom. The asset is currently consolidating near the 200-day moving average at 17.81. For a bullish scenario, a move above 17.81 targets 24-25, leading to a take profit zone between 43 and 64. A subsequent sub-wave 4 is anticipated, followed by an upward sub-wave 5, potentially reaching 85-98 and eventually 127-140.