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LINKETH - MONTHLY BREAKOUT (LONG) $LINK Chainlink $LINK has broken out of a brutal downtrend against Ethereum $ETH. LINK has been bleeding against ETH since August 2020 and finally looks ready to breakout of the trend and hopefully go to new ATHs. Link was the star of last bear market, and as we head into poor macro conditions, it looks like history may repeat itself. LINKETH is also sitting on major support and I'm fairly confident that it will hold strong. This could be another fakeout like we saw a few months ago - but I'm optimistic LINK will start outperforming soon regardless. During the mania phase, the market greatly over valued various L1s, meme coins, metaverse, governance tokens, etc. Its time for a return to normalcy and for only the strongest projects to survive/thrive.
COINBASE:LINKUSDLong
by sacred73yt
2
Chainlink (LINK) - June 13hello? Traders, welcome. By "following", you can always get new information quickly. Please also click "Like". Have a good day. ------------------------------------- (LINKUSDT 1W Chart) 11.31 and below are likely to be mid- to long-term investment areas. Therefore, it is important to be able to climb to the 11.31-14.49 section. (1D chart) In the short-term and medium-term perspective, it needs to move above 7.72 and find support to turn into an uptrend. However, as the 11.31-14.49 section is the section that determines the trend, it is expected that the upward trend will continue when it rises above this section. ------------------------------------------------------------ ----------------------------------------------------- ** All indicators are lagging indicators. Therefore, it is important to be aware that the indicator will move accordingly as price and volume move. However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator. ** The MRHAB-T indicator used in the chart is an indicator of our channel that has not been released yet. ** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.) ** Support or resistance is based on the closing price of the 1D chart. ** All descriptions are for reference only and do not guarantee a profit or loss in investment. (Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.) ---------------------------------
by readCrypto
3
link.the same as all the other coins, link put in a clean 5 waves up, and has since put in 3 waves down. --- i'm starting to like the idea that the move down from the highs was only the first of three larger legs. in this case, it came down in a simple zig-zag, so i'm going to be labeling this abc as wave (w). wave x usually retraces 0.50% of the entire drop, but it can go to the 0.618~0.65% as well. wave y will drag out into 2023, where it will find a bottom most likely closer to $1.22. --- w-x-y, is nicknamed a double combo, and it consists of three zig-zags (it can also become more complex, and have smaller double \ triple combos within it). --- risk management is your #1 priority, everything else should come second. 💰
BINANCE:LINKUSD
by Eloquent
3
LINK above 21$ would be a sign of massive reversal!Here's a quick look at the LINK Daily chart . As we can see, the price has been oscilating withing a bigger falling wedge. BTC needs to get above 48k before we can expect a break above 21$! The best entry would be when the price breaks above 21$ with good amount of volume . Definitely one to keep an eye on! ------------------------------------------- The idea is: Buy when the price breaks above 21$ and take profits at the levels shown in the chart. Targets: 1. 24$ 2. 28$ 3. 32$ 4. 36$ ------------------------------------------- What Is a Wedge in the context of trading?: "A wedge is a price pattern marked by converging trend lines on a price chart. The two trend lines are drawn to connect the respective highs and lows of a price series over the course of 10 to 50 periods. The lines show that the highs and the lows are either rising or falling and differing rates, giving the appearance of a wedge as the lines approach a convergence. Wedge-shaped trend lines are considered useful indicators of a potential reversal in price action by technical analysts. Key Takeaways for Falling wedges: 1. Wedge patterns are usually characterized by converging trend lines over 10 to 50 trading periods. 2. The patterns may be considered rising or falling wedges depending on their direction. 3. These patterns have an unusually good track record for forecasting price reversals." ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!
Long
by MBM_Crypto
2