LINK - Ethereum Pair Long Pair Trading Idea
ETH and LINK are both so hot right now. LINK is price discovery and ETH is about to break out, but where should I be. Well my idea is playing the 200&314 day moving averages. Currently I'm holding ETH. I traded LINK into ETH when the last time it crossed below the 200day MA, after this trade I like to monitor movement until it crosses below the 314day MA, once here I will hold ETH until LINK breaks above the 314day MA, trade some ETH back for LINK, monitor it until it crosses back above the 200 day MA. I like to use the these averages for entry and exit points for long positions. It's my opinion to always hold some ETH, but if you would like diversify your bags this could work out for you as well.
Note
LINK is still looking hot, but IMO still too soon for a trade according to this chart and plan. Musk is pumping BTC, ETH could be on the verge of a break out.
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.