LINK/BTC 12H (Binance) Bullish pennant on support
Updated
ChainLink is looking bullish again, I expect it to go back to the same mid-line channel as long as MAs hold the price action.
Current Price= 0.00043282
Buy Entry= 0.00043301 - 0.00042501
Take Profit= 0.00046514 | 0.00049184 | 0.00056909
Stop Loss= 0.00039288
Risk/Reward= 1:1 | 1:2.16 | 1:2.98
Expected Profit= 8.42% | 14.65% | 32.65%
Possible Loss= -8.42%
Fib. Retracement= 0.618 | 0.786 | 1.272
Margin Leverage= 1x | 3x | 5x
Estimated Gain-time= 600
Current Price= 0.00043282
Buy Entry= 0.00043301 - 0.00042501
Take Profit= 0.00046514 | 0.00049184 | 0.00056909
Stop Loss= 0.00039288
Risk/Reward= 1:1 | 1:2.16 | 1:2.98
Expected Profit= 8.42% | 14.65% | 32.65%
Possible Loss= -8.42%
Fib. Retracement= 0.618 | 0.786 | 1.272
Margin Leverage= 1x | 3x | 5x
Estimated Gain-time= 600
Note
Actually R/R is a bit different:Risk/Reward= 1:1 | 1:1.74 | 1:3.88
Trade active
All entries filled.I had to redrew a little bit the pennant to fit that new low, but still valid in my opinion.
Note
Pennant broke-down, a flag is forming now, price bounced on Fib. 0.5 (41.6K) but could still go down to Fib. 0.618 (40.8K sats) before a move up 🤞🏼Trade closed: target reached
TP1 hit with +8.42% (42.10% using 5x), this was definitely a bull-flag at last, I hope you held tight!Trade closed: target reached
TP2 hit with +14.65% from average entry (73.25% using 5x Margin leverage).Last target is still valid, but I wouldn't recommend entering now if you missed out.
Trade closed: target reached
TP3 hit with +32.65% from average entry (163.25% using 5x Margin leverage).It was really worth the wait, now it's facing mid-line channel resistance so I would wait for a new entry after a correction.
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