Chainlink: Partial Decline Supply Line Breakout Update #2This is an Update to this currenly still active previous setup from several weeks ago:
As of rigth now LINK has Confirmed it's Pivot from the 0.618 and has now broken through a serious Supply Line; If it continues up to $9.51 we will have confirmed a Partial Decline which at that point should lead to a Breakout of the Range that could take it to the next Resistance at $27.80
LINKPERP
Chainlink: Partial Decline With Hidden Bullish DivergenceLink several weeks back bearishly reversed at the top of the local range which lined up with the PCZ of a Bearish Bat and the target i had set for it was the 50-61.8% Retracement because there was a higher probability that Chainlink would reverse Bullishly there to begin to attempt a Partial-Decline.
We've since begun to reverse at that level and are showing Hidden Bullish Divergence on both the MACD and RSI. One would be lead to believe that this is the start.
However as of right now it's unconfirmed until it touches the top of the range again; But we have enough info here to try to front-run the test of the range top and get a better entry today.
LINK to $30 soonWe are seeing bullish signs for LINK and $30 should be an easy target if things keep going well.
Price has been holding above the EMAs indicating that they are acting as a good support.
While price is above the EMA support it is still below a price resistance level. The longer it stays in the range the more pressure will build, and the quicker the breakout will be.
Because we are seeing bullish signs across the board it is reasonable to think we will have a break to the upside and we should target $30.
As long as the EMAs continue to act as support we should remain bullish. If we see a strong close below the EMAs then this idea is invalidated.
LINKusdt is looking breakoutyTwo solid tests of the daily resistance line which is more likely a weekly resistance. Higher lows pushing up in to the resistance shows buyers are there.
I do not like entering within chart patterns since it's hard to determine who is really in charge. However, seeing as this is up against an ATH, a 0.5% risked position seemed warranted. If there is a break and subsequent retest of resistance now support, which is my preferred way of playing breakouts, the remaining 0.5% can be added to the position.
LINK.USDT (Y20.P5.E1).Macro.Bullish formationHi All,
Just putting forward a likely scenario based on a few points.
> we hit the 0.618 fib level as resistance;
> BTC has likely hit a resistance; hence a pullback is likely and hence for link as well;
> If there is a pullback, since BTC is still bullish, link will also;
If BTC looks for the daily 21 EMA, it maybe the case for LINK looking for the same, either the daily 21, or 50 EMA.
If this was to occur, as per the chart, it will on the macro level, create a cradle on the weekly where we use the larger ema support to go back in.
If this was the case, we can anticipate a macro continuation pattern, as we got here, a inverse H and S. It could also be some sort of ascending triangle.
Note, the fib levels on this chart and how they correlate with the structure and EMAs. All key ingredients for the next move.
These are my thoughts for now, in the planning.
Cheers,
S.SAri
PS. The wedge breakdown will be the trigger.
Trading diary- Public trade 01- Chainlink trading 01I have finished my very first bot that has a very peculiar strategy. My strategy isn't to maximize profit, but rather minimizing risk. I have backtested it and it has been ready since July or august so I haven't been trading because I didn't have an entry. My strategy is very simple: I long when my bot tells me to long and I exit once it tells to exit. I don't short. Maybe in the future I will work on something, but the idea here is to make as much profit as possible effortlessly.
The idea here is to make a public diary.
I entered the trade around 10.80.
My bot is still under construction, this is just the mvp , I will be improving it on the go.
My target is around 80-100 usd within the next 5-6 months. The trade gets invalidated if we close below 7.36 for at least a month.
On the picture below you can see my guess of what is going to happen. Just a reminder, it is just a GUESS, I don't and I won't trade on guesses, I trade once a few conditions are activated, this is just for entertaining and marketing purposes :)
I, Pepe Giovanna have a dream!
LARGO - LINK - Oportunidad de CompraBINANCE:LINKBTC pareciera como si estuviera iniciando una tendencia alcista, al haber creado un doble fondo.
Entrada: 0.000674
Objetivo 1: 0.00071205
Objetivo 2: 0.00074825
SL: 0.00065849
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LINKPERP - Long ScalpGood place to long LINK , short-term at least. Near the daily support, expecting possible pullback from here. My algos is also long on LINK.
Risk management: I believe in linkmarines, but need to keep in mind if BTC continues to pump further all (or almost all) alts will be sold to BTC.
Hit the "LIKE" button and follow to support, thank you!
Information is just for educational purposes, never financial advice. Always do your own research.