linkusdt.p bybit long
2024-11-28

LINK/USDT Analysis – Wyckoff Phase E (LPS Label)

The LINK/USDT pair appears to be in Phase E of the Wyckoff Accumulation schematic, showing clear signs of strength following a long consolidation period.
At this stage, the Last Point of Support (LPS) is evident as the price retests the breakout zone with diminishing selling pressure and higher volume on up moves.

Key Observations:
LPS Confirmation:
The price successfully holds above the previous Resistance (now Support) zone.
Reduced volume on pullbacks signals that selling pressure is exhausted.
Higher Highs and Higher Lows:
This structure aligns with Wyckoff’s principle of demand dominance, confirming the continuation of the uptrend.
Outlook:
If the price continues to respect the LPS and gains momentum, the next target would likely be the next significant resistance around  NYSE:X  (adjust based on chart data).
Wyckoff's method emphasizes the importance of understanding market phases and the behavior of composite operators. Let’s see if LINK/USDT will continue its rally and establish a new uptrend.