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Linkbuy

LINK → Chainlink About to Breakout!? Let's Maximize Profits!Chainlink bounced off the top of the Resistance Zone at $20.00 and is threatening to break out. Is this a situation that calls for a long or a short? How do we trade this? 🤔 Never long in a Resistance Zone! But also, don't short prematurely. I believe LINK will make an attempt to break out of the Resistance Zone, but we need confirmation of the break before we can enter a long trade. Wait for a strong close above $20 followed by a test of the Resistance Zone as support. Once we see a strong bull bar closing on or near its high after a bounce on the Resistance Zone, we have the justification to enter a long trade. I do believe that Bitcoin has a high likelihood of pulling back into the $30,000-$35,000 range before we see new all-time highs. Such an event will likely drag the altcoin market down with it. This is partially why this trade is set up to take half profits at 1:1 Risk/Reward and move the stop loss up to the entry price, locking in profits. The remainder of the trade can then be executed without worry of loss. 💡 Trade Idea 💡 Long Entry: $21.60 🟥 Stop Loss: $17.185 ✅ Take Profit #1: $26.00 ✅ Take Profit #2: $34.85 ⚖️ Risk/Reward Ratio: 1:3 🔑 Key Takeaways 🔑 1. Two strong pushes to the upside 2. Strong resistance at Resistance Zone 3. Price action still above EMA ribbons 4. Wait for a break, close, and test of the Resistance Zone as support to enter a long trade 5. RSI at 70.00 and above the moving average, supports pullback then long 💰 Trading Tip 💰 Trends typically have three legs in either direction. Signals of a reversal include strong buy or sell bars with large wicks, higher highs and lower lows get weaker, and responses to the reverse direction get stronger. Confirmation lies with double and triple bottoms with a strong candle closing on or near its low/high. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology
Long
by TraderEngineering
6
LINK /USDT Bullish Divergence,High Demand and Potential Bull Run💎 There is a bullish divergence in the MACD indicator. This discrepancy suggests a weakening of the downtrend momentum and a possible trend reversal. 💎 We have seen a break of structure following the previous downtrend. This break indicates a shift in market sentiment, potentially leading to a bullish phase. 💎The current price of LINK is situated within a high demand zone. The combination of bullish divergence in the MACD, a break of structure, and the presence of a high demand zone suggests an increased likelihood of an upward movement in the price of LINK. Disclaimer: This is Not Financial Advice ❗️ Trade at Your Own Risk ⚠️
Long
by MyCryptoParadise_Simon
2
Keeping It Simple, Buy $LINKLike I said in the title, it is time to buy some $LINK. Grayscale announced today that they are launching an ChainLink investment trust. Link has been lagging behind other ALTs recently and I think this is the boost it needed. We have a confirmed breakout with volume from a symmetrical triangle. We could see a retest but you never know with ChainLink. The top line is resistance from the old all time high in August of 2020. The bottom line is support from late December. I expect price to hit $40.00 within a couple weeks and that could be conservative.
Long
by ParCrypto
2
LINKUSDT: Buy possible (13.09.2020)On D1, the cloud is directing downward, indicating a price correction, and price found support at the 50% Fibonacci level. On H4, the price fluctuates around the cloud, which indicates the formation of a local price correction. In addition, a divergence has formed on H4 between the price and the RSI, which indicates a possible end of the price correction on D1. We recommend buying from the level of 12-11 (when RSI will reached overbought level on H4).
Long
by QubitLife
4