Link, ahh good old Link. How have you been, tough year hey? Well, good thing is you're still kickin' around despite all this blood on the street.
I haven't charted LINK in a long time, but I feel now it is time again. My thoughts are all written on the chart, clearly, with BOTH short and long triggers.
I don't really care if you agree or disagree and in fact I welcome it, because being a successful trader means having invalidation levels and accepting when you're wrong. In other words, being objective and mature. (I got some trash talk last post from someone who was butt-hurt about the bear market, if you're a positive person I absolutely welcome your feedback, please!)
Anyways, LINK is clearly back into the range, having swept the highs and lows of liquidity. Sitting on support and likely waiting for what ETH and BTC are going to do next. Given it could go either way, please enjoy my long and short scenarios on the chart.
LONG - above a reclaim of $7.80-ish
Short-term Long - Enter on another minor dip around $7 and SL below wicks
SHORT - below losing $6.70-ish
I don't love drawing lines of where price may go, so really I'd just play it level to level and keep it simple. We have the mid-range currently acting as support, lose that we have a bullish order block in green box and obviously below that we have the macro low. It may sound like a lot of support, but if bitcoin tanks LINK is double tanking!
Or we reclaim range high and test resistance, but I would either wait for confirmation to enter (above $7.80-ish) or I'd enter SOON with a tight stop loss below our most recent wicks shown in the "Potential ST Long"
For now mainly chop, no clear setup. Need more PA to develop, as per usual.
Get your 8 hours of sleep tonight Anon!
Cheers
I haven't charted LINK in a long time, but I feel now it is time again. My thoughts are all written on the chart, clearly, with BOTH short and long triggers.
I don't really care if you agree or disagree and in fact I welcome it, because being a successful trader means having invalidation levels and accepting when you're wrong. In other words, being objective and mature. (I got some trash talk last post from someone who was butt-hurt about the bear market, if you're a positive person I absolutely welcome your feedback, please!)
Anyways, LINK is clearly back into the range, having swept the highs and lows of liquidity. Sitting on support and likely waiting for what ETH and BTC are going to do next. Given it could go either way, please enjoy my long and short scenarios on the chart.
LONG - above a reclaim of $7.80-ish
Short-term Long - Enter on another minor dip around $7 and SL below wicks
SHORT - below losing $6.70-ish
I don't love drawing lines of where price may go, so really I'd just play it level to level and keep it simple. We have the mid-range currently acting as support, lose that we have a bullish order block in green box and obviously below that we have the macro low. It may sound like a lot of support, but if bitcoin tanks LINK is double tanking!
Or we reclaim range high and test resistance, but I would either wait for confirmation to enter (above $7.80-ish) or I'd enter SOON with a tight stop loss below our most recent wicks shown in the "Potential ST Long"
For now mainly chop, no clear setup. Need more PA to develop, as per usual.
Get your 8 hours of sleep tonight Anon!
Cheers
Vatsik
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Vatsik
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.