ChainLink(LINK): Broke The Neckline !!!

After monitoring this one for very long, we are finally seeing some breakdown attempts near the neckline zone. As we broke that zone, we also went for a re-test, which is currently showing bad signs. But we are not rushing and we are getting ready for a potential position here, which means that if daily candle closes again below neckline zone, this would indicate to a potential overweight of bears (which is also a good start for a downward movement)

Swallow Team

Note

Link is showing some good moves here on Daily. We are seeing that after the re-test, the price is still showing some further weakness, which is good for us as we are slowly securing that neckline zone. A good short setup might come for sure!

Note

Link failed to secure the breakdown near the neckline, which means we are most likely going to go for a re-test of that upper resistance zone before another potential movement towards the neckline.

Note

LINK has been bouncing from support to resistance and so on, but yet has not had a clean breakdown of the lower support zone (which we are waiting to happen still).

We are keeping an eye on this setup.

SwallowAcademy

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SwallowAcademy

🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades

Keep an eye on us and you will not regret it. 😉

Telegram: t.me/+fiEDSn7M9pJkODA0

Also on: