$Link another possible breakout soon.
As usual, when the BTC prices rises, the ALTs prices plummed. This has been occurred since the start of 19 rally for most altcoins, including Link. Although the Binance Research report for the Q2 presented that 
LINK had a low correlation to the BTC price. We have noted that after the BTC rally, the following days the altcoins rally starts.
Yesterday was a bloody day for most altcoins (well we play both sides / long and short),LINK tested again its supports at 20.000 sats, the minium achieved around 19.000 sats, but a rebound might be about to happen soon , as another breakout is about to happen.
My simple set up, show me that if the prices could hit the 200 EMA, it will represent another breakout from the bear channel close to the 38.20% of the Fibo line, which could result in a strong move.
However, once the future is not predictable, it can fail. In case it fails, we will just set the stop loss, otherwise, we might be at a good entry point here.
**this is not a financial advice, I am just sharring the way I see the charts.
LINK had a low correlation to the BTC price. We have noted that after the BTC rally, the following days the altcoins rally starts.Yesterday was a bloody day for most altcoins (well we play both sides / long and short),
LINK tested again its supports at 20.000 sats, the minium achieved around 19.000 sats, but a rebound might be about to happen soon , as another breakout is about to happen.My simple set up, show me that if the prices could hit the 200 EMA, it will represent another breakout from the bear channel close to the 38.20% of the Fibo line, which could result in a strong move.
However, once the future is not predictable, it can fail. In case it fails, we will just set the stop loss, otherwise, we might be at a good entry point here.
**this is not a financial advice, I am just sharring the way I see the charts.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.