LINK Short idea - Just under a KEY Resistance levelstrong support and resistance level at 0.3026
not recommended to enter now or on the break of mentioned level
due to recent attempts
buying the retest is safer
dotted lines provided to show
why i picked my areas for targets
notice the dotted lines are under
candle bodies and wicks
price movement prediction
Price Prediction
not financial advice
this is for entertainment purposes only
always DYOR
Linkshort
LINK : Bearish setup here...Link is trading inside a bearish pennant like pattern and if price breaks below the trendline, Expecting more downside for Chainlink.
Traders can keep manual stoploss of hold above 7.2
LINK CAN MAKE A CORRECTION AGAINFirst of all, I need your support to continue my activity and provide analysis. Please support, otherwise my activity will stop.
These few days, I gave Scalpi setups for the link, and they all hit the first target. In my style, after seeing the first target, we save some profit and then risk free. Even now, I think this setup can provide a scalp for shorts.
$link short | sub $7 targetwe've been short $link since the 10th and are expecting a serious pullback, along with the rest of the market. similar set up to our bitcoin chart posted a few days ago (linked)
legacies also look topped.
this is either going to bounce around the lows to form a wave 2 bottom, or this was dead cat and we have 5 more waves down.
playing it level by level.
LINKUSD Short ScenarioMarket is in overall downtrend, but in 1h timeframe we can see an upwards correction, market already formed a main lower high, which means we should see a break of a correction structure, retrace back to it and down a downfall of a price at least to a recent main lower low.
Entry: 7.29 (After break and retest)
Invalidation: 7.98 (Above main lower high)
Target: 5.56 (Main lower low level)
LINK SHORT to $12 Following is my analysis on LINK going SHORT in the next few days
1) The BLUE wave 1-2-3-4-5 went from $1.5 to $53 from March 2020 to May 2021
2) After great impulse comes correction A-B-C wave, markets are in correction mode for 2/3 of the time
Wave A retraced 78.6% FIB a perfect 5 wave down series in GREEN
Wave B is a perfect 3 wave series in ORANGE
Wave C should be a 5 wave series down so its right now doing sub-wave 4 in RED
In wave C the sub-wave (1) and sub-wave (3) are exactly of the same length so sub-wave (5) will be elongated so maybe 1.27 or 1.41 or 1.61
Wave C or sub-wave (5) in Wave C will end around $12.5 before it makes any move after the full correction
Summary :
I think LINK is going to short to $12.5 in the next few days before the market completes full correction and moves up
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