The Trust Layer for Market Analysts

The analysis focuses on LINKUSD, suggesting a potential upside reversal. Although a 1-2 setup is considered of low probability due to retracement depth. The scenario remains valid, a clear five-wave move to the upside on a smaller time frame is needed to confirm the next move upward. The analysis points out that there isn't strong confirmation of a market reversal to the upside. On the 1-hour chart, minimum requirements for a five-wave move up have been fulfilled, but it lacks impulsiveness. The critical aspect is the defense of the area between $11.94 and $12.56, which acts as a crucial Fibonacci support zone. An impulsive upside reaction, forming a third wave, could push the price above the yellow trend line and resistances between $14.00 and $14.52. If the bulls can't defend the support area a micro five-wave move to the downside would mean that wave two is still unfolding or wave one extension.