I don't own any LINK as I sold at $4.88 when I posted my prediction for a correction ( linked below). currently, I am looking for a reentry point again.
depending on what bitcoin does ill share 2 of the most likely possibilities that I believe could happen.
Bullish scenario. If bitcoin hold its level or rebounds and climbs higher, We bounce of the 3,80 line and continue higher to retest the top of this triangle.
Bearish scenario. If bitcoin breaks bearish the crypto markets might go into full-on panic mode again and we would break down and out of this triangle signalling that we are going to be in a larger correction.
A few things I'm worried about
1 : Global markets are tanking.
2 : The MacD on the daily chart has just crossed to the bearish side. ( could just be for this small correction to $3,80 )
I suggest keeping a tight stop loss under the triangle with a risk ratio you feel comfortable with.
Let me know what you guys think in the comments and have a good day.
depending on what bitcoin does ill share 2 of the most likely possibilities that I believe could happen.
Bullish scenario. If bitcoin hold its level or rebounds and climbs higher, We bounce of the 3,80 line and continue higher to retest the top of this triangle.
Bearish scenario. If bitcoin breaks bearish the crypto markets might go into full-on panic mode again and we would break down and out of this triangle signalling that we are going to be in a larger correction.
A few things I'm worried about
1 : Global markets are tanking.
2 : The MacD on the daily chart has just crossed to the bearish side. ( could just be for this small correction to $3,80 )
I suggest keeping a tight stop loss under the triangle with a risk ratio you feel comfortable with.
Let me know what you guys think in the comments and have a good day.
Note
We are hitting the trendline now. Looking for a close on the trend line with a slight wick below it for the bullish scenario to play out. Stay alert! We might fall right trough which would be very bad.Note
7 Minutes to close. Support is fierce!! but will the bulls win the battle!?Note
Coinbase says 59% of people are buying right now. Shaking out the weak hands. it's looking like we are going to close above the support!Note
We bounced and now have a green 4H candle forming. But don't get too comfortable yet, that was a pretty intense drop. And when people get home from work and see their Coinbase chart they will panic sell!Note
Bought LINK with a tight stop-loss.Note
Balls...
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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.