Taking a long position on LINKUSD right now has a terrible risk/reward ratio.
Until and unless price consolidates back above the current horizontal, short traders will be looking for an entry with 25% drop target.
As it stands right now, price is pushing against the exact level we've been watching for weeks, assuming that 'as a worse case scenario' price could retrace to $9.
Now we may be looking at $6.70.
Until and unless price consolidates back above the current horizontal, short traders will be looking for an entry with 25% drop target.
As it stands right now, price is pushing against the exact level we've been watching for weeks, assuming that 'as a worse case scenario' price could retrace to $9.
Now we may be looking at $6.70.
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Related publications
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.