Bullish Setup on Link/USDT and LINK/BTC 🦋💹
Current Price (CMP): 25.8334
- Entry: At CMP
- Stop Loss (SL): 25.3
- Target: 27 ( on higher time frame chart is still bullish and use trailing stop loss along the way more than the lower time frame target)
Analysis:
- A Bullish Butterfly pattern is forming on the 15-min timeframe, providing strong support.
- Additionally, a Bullish Ascending Triangle pattern is visible on the 4-hour timeframe, reinforcing the bullish sentiment.
Risk-to-Reward Ratio:
- 4.5 – Favorable setup for disciplined risk management.
Strategy:
- Use a Trailing Stop Loss to secure profits as the price moves up.
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Disclaimer:
This idea is for educational and informational purposes only and does not constitute financial advice. Always perform your own analysis and consult with a financial advisor before making trading decisions. Trading in cryptocurrencies involves substantial risk of loss and is not suitable for every investor.
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Current Price (CMP): 25.8334
- Entry: At CMP
- Stop Loss (SL): 25.3
- Target: 27 ( on higher time frame chart is still bullish and use trailing stop loss along the way more than the lower time frame target)
Analysis:
- A Bullish Butterfly pattern is forming on the 15-min timeframe, providing strong support.
- Additionally, a Bullish Ascending Triangle pattern is visible on the 4-hour timeframe, reinforcing the bullish sentiment.
Risk-to-Reward Ratio:
- 4.5 – Favorable setup for disciplined risk management.
Strategy:
- Use a Trailing Stop Loss to secure profits as the price moves up.
---
Disclaimer:
This idea is for educational and informational purposes only and does not constitute financial advice. Always perform your own analysis and consult with a financial advisor before making trading decisions. Trading in cryptocurrencies involves substantial risk of loss and is not suitable for every investor.
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Trade closed: stop reached
Note
The trade based on the 15-minute Bullish Butterfly pattern has hit the stop loss (SL) at 25.3, resulting in a concluded risk of 1R. While the setup had a favorable risk-to-reward ratio of 4.5, short-term volatility invalidated the 15-minute pattern.4-Hour Perspective:
The Bullish Ascending Triangle on the 4-hour timeframe link/btc remains intact also (link/usdt bullish penant), and the overall bias continues to be bullish. I’ll monitor for new opportunities that align with the larger timeframe trend.
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.
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.