Technical analysis by OnlyProfits888 about Symbol LINK: Sell recommendation (12/8/2023)

Chainlink had a clear breakout of a falling wedge but has not retracted or tested the breakout. While the huge falling wedge seems very promising, I will mention that the falling wedge is a very poor performer and bullishness may not sustain after it has reached its target. Tom Bulkowski a author, legendary trader and regarded as the leading expert on chart patterns, has this to say about the falling wedge. "The falling wedge is a poor performer as far as bullish chart patterns go. The break even failure rate is high and the average rise is low. The only variation that works well is a downward breakout in a bear market and the performance rank for that is in the bottom half of the list."thepatternsite.com/fallwedge.html