Updated

LINK/USDT

Link seems to find itself in a really large daily channel. Right now we are just below the mid range, a pivotal level. Coming from channel low it has to beat the mid to make a possible run up otherwise downside is likely.

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On the LTF we are forming what looks to be like a ascending triangle which could mean upside continuation. Volume on the run ups is decent.

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Last time trend did retest the mid channel.

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If we break upside look for the same thing. This means a wick down towards the mid and topside triangle and a 1h close above. That should be a long trigger as long as bitcoin behaves. Stop below lh in triangle and 4 tp's to the upside best ratio would be 40-30-20-10

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Another idea is a short, if Link fails to close above mid channel. Triangle break would open us up to take that trade.

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Need to see it start closing above risistance otherewise its looking for a short especially with the possibility of a btc breakdown. We are over 60% in triangle likely the trendline will break.

Trade active

In a short position, trigger was wick on 1h again in the region with a close below.

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Trade closed: target reached

Closed for 9%, never hit last tp instead hit moved up stop.

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DemKos

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DemKos