LINK Rocky Mountain High - Targets Included
Link is looking to also take the trek up the mountain to say hello to the King of the Mountain, Mr. BTC himself! You can see from the charts that we pierced the 100 EMA and came close to the 200 EMA. What we're looking for here is for a close above the 100 EMA to activate this trade. We can enter once we've closed over the 100 EMA with a tight stop loss @ 2% - 7%. If we can close above both the 100 EMA AND our Safe Entry point we'll be ready to start our ascent.
Short/Mid Term (1 day - 1 week)
Safe Entry - 3060
Target 1 - 3275
Target 2 - 3520
Target 3 - 4065
Target 4 - 4300
How we Trade the Breakout:
We'll keep an eye on the 4h chart to watch for the close. Once we've closed over 3060 this becomes support. We set our stop losses 2% - 7% below this line. We decide how tight our stops should be based off of BTC's movement. I believe BTC 0.13% has seen it's high for now and alts could start to bounce, however the bulls have shown their strength, so they could step it up again and try to break 8500 resistance. We always watch the king and follow his lead when trading alts. LINK is looking good in the short to early medium term if BTC 0.13% can cool off and find some sideways movement. When a resistance becomes support. Always make sure to set your stop loss below this.
Remember to take profits at targets and ladder buy on the retrace. Don't FOMO! Wait for the ideal price to come to you. You can gauge good buying prices in shorter time frames utilizing our Stochastic indicator.
May your stack see blue skies and brighter days!
- CK
Telegram Chat - t.me/knightsofcrypto
Telegram Info Channel - t.me/theroundtable
**This is not to be used as financial advice but rather for educational and analysis purposes**
Short/Mid Term (1 day - 1 week)
Safe Entry - 3060
Target 1 - 3275
Target 2 - 3520
Target 3 - 4065
Target 4 - 4300
How we Trade the Breakout:
We'll keep an eye on the 4h chart to watch for the close. Once we've closed over 3060 this becomes support. We set our stop losses 2% - 7% below this line. We decide how tight our stops should be based off of BTC's movement. I believe BTC 0.13% has seen it's high for now and alts could start to bounce, however the bulls have shown their strength, so they could step it up again and try to break 8500 resistance. We always watch the king and follow his lead when trading alts. LINK is looking good in the short to early medium term if BTC 0.13% can cool off and find some sideways movement. When a resistance becomes support. Always make sure to set your stop loss below this.
Remember to take profits at targets and ladder buy on the retrace. Don't FOMO! Wait for the ideal price to come to you. You can gauge good buying prices in shorter time frames utilizing our Stochastic indicator.
May your stack see blue skies and brighter days!
- CK
Telegram Chat - t.me/knightsofcrypto
Telegram Info Channel - t.me/theroundtable
**This is not to be used as financial advice but rather for educational and analysis purposes**
Trade active
We just closed over the 100 EMA. Trade active! If you want to wait for the safe entry that's cool too as there's nothing wrong with playing it safe. Remember to set your stop losses tight at %2 - %7Let's see if this one's ready to visit the King of the Mountain!
Note
Link is looking strong! We've hit 2 of our targets :)As you can see we bounced off of target 2. This is because Target 2 is resistance. Remember we sell on targets and buy on support. Target 3 will be in play once we break over the resistance of Target 2 and close with a 4 hour candle to turn it into support. Once that happens we set our stops 2% - 7% below support. Right now stops should be set below support of Target 1 to allow this coin enough space in it's price action to move comfortably up to Target 2.
As always keep an eye on BTC when managing the trade. LINK held strong during this recent dip, which is a great sign for upward movement in the near future.
Note
T3 hit!Trade closed: target reached
Resistance on T4 was a few sats off. Closing this one out. Link is still looking strong. Will post new Targets after we've consolidated a bit.
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