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LINKETH trade ideas

ETHUSDT Possible Multipair support-Expecting good reaction in the green box -Its only 3% of distance between current price and green box, but imo BINANCE:LINKBTC is at support or have another 7% drop to reach next support zone, BINANCE:LINKETH has another 5% to reach next support zone. -Another thing to keep in mind is LINKBTC and LINKETH is free falling below D200MA, so its risky -If LINKBTC and LINKETH support align at the same time , will trade bigger and find new entry asap if not the green box.
Long
by GainTP
Potential accumulation pattern on ETH/LINK chartSupply is beginning to be absorbed. If we can resume upward from here, and get above the closest resistance that price just bounced down off, then LINK should gain on ETH again. There could still be a more solid move downward before a spring up, and that would be an even better entry depending on the strength of it. I will post again if that happens and is a good setup. Otherwise if it doesn't look good I will update this idea with why I didn't take the trade. Good luck! Please consider donating a few Gwei if you enjoy my charts and find them helpful :) 0xf611624408DB83923979Fc2cBd88D6965594fb31
Long
by dontdaytrade
Low Probablity Cup and HandleYet again I am seeing a cup and handle; I have yet to see one and play it successfully every step of the way, I did a banger of a job shorting LINKETH, and catching the long. The 'handle' is hard to chart, because of the wicks, but I can see a falling wedge that may break up, but perhaps thats what I want to see. I should aslo note that I placed my stop loss 1-2 hours before that wick came thundering down, and a few hours ago it got close again. In short I've been long a while, but portions of my long are up from about .035, so Ive stressed myself out waiting to see that get back in the money and watching the base pairs thrash around.
Long
by FerroIgnique
1
Massive potential move in LINKETH, illiquid market riskThis isn't advice, is a trading journal. But that being said I've opened a position into shorting LINKETH. This is a very illiquid market, Kraken, the exchange I use sometimes goes hours without reporting a trade and the variance across exchanges can be significant. Additionally, because the exchanges have such variance in price action the oscillators are totally non-congruent. I'm a huge fan of the Stoch RSI but you don't see it here due to the liquidity issues. Moreover, price action, followed by averages and volume are what I look at the most. While Bitcoin and the other majors were crabbing LINK went parabolic. I avoided trading it because I think its a meme coin and I'm biased coins that Kraken lets me trade x5. Kraken only allows x3 on LINK, but in retrospect its a trade I missed, big time: Heinkin Ashi Candles My position is predicated on the idea that LINK will retrace similar to BCH and BSV, which we can see in BCHUSDs case was very quick and dramatic. At the same time, I'm fairly convinced that ETH is going to break to the upside, bigly, in short order. It may even go on the same crazy move we've seen in BSV, BCH, and LINK. My tinfoil sensibility is that someones are pumping alts in order to make massive gains, or offload bags and get the short after. This is also the reason I have a eye on EOS, it may be in the pump queue; it already doubled and retraced this year, but who knows? I don't. More context for ETHUSD in the linked post. I am also very bullish on bitcoin. Its been finding support on the weekly 50, and while a retrace to the 50 at 8583 now would be a prudent option to hedge against, the stock to flow, halvening, buy signal on the hash ribbons, and support on the 50 leads me to think that major moves to the upside are coming. These major moves may be in weeks to come, months to perform, and preceded by a pullback, etc, etc, but my bias is BTC and ETH moving up, ETH perhaps moving faster and sooner based on the ascending triangle. Why trade a crypto pair that moves x3 when another coin can be traded x5 in USD? Because simply if the USD pairs move in opposite directions against USD the move will be magnified in the pair in such a manner that the reduced amount of leverage yields higher gains. Also I'll be paid out in the denominator, in this case, ETH. Imagine ETH goes x 20, and I trade it x5, thats 100% returns. Very nice. But if Link goes -20 at the same time then the spread on that would be 40% x5= 120%. I'd not be surprised to see ETH go 60% to the upside and LINK go 60% to the downside. Of course there is always the chance that LINKUSD is merely resting and continues to go parabolic. Or that they both appreciate at near the same rate, or both fall dramtically. Which is why I'm not all in on this trade and I have stops all around.
Short
by FerroIgnique