Short

LINK/USDT 1H: Bearish Momentum – Short Setup Targeting $15.80?

LINK/USDT 1H: Bearish Momentum – Short Setup Targeting $15.80?
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Current Market Structure:

Price at $16.03 with strong bearish momentum, having broken multiple support levels.
Clear bearish structure with a bearish breaker formed at $17.20 and multiple BOS confirmations.

Market Maker Activity:

Distribution phase is in effect, with market makers likely targeting $15.80 support.

Technical Indicators:

RSI is oversold at 26.51, yet momentum remains bearish.
No hidden divergence visible on the current timeframe.

Key Levels:

Resistance: $16.80 (previous support turned resistance).
Support: $15.80 (next major support level).

Trade Setup (Confidence 8/10):

Entry:
Look for a relief bounce in the $16.20-$16.40 zone.
Targets:
T1: $15.80
T2: $15.40
Stop Loss: $16.85 (above the recent breaker).

Risk Score:

7/10 – High volatility environment but with a favorable risk-to-reward if key levels hold.

Recommendation:

Wait for confirmation of a bounce in the $16.20-$16.40 range before entering the short position.
Given the oversold conditions and distribution phase, avoid chasing the current move.
Monitor price action closely as the downtrend continues toward the $15.80 support.

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Cryptokijker

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Cryptokijker