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ChainLink
Long

LINKUSD Long

By spruce_g00se
Updated
Looks like a good opportunity to catch a 5th wave. We have retraced as far as golden pocket and have the 1D EMA200 for support. Could start DCA buys now but expect retrace as far as 0.786 at least.
Trade active
Buy target hit. Continue DCA entry to 1D EMA200 at $7.90 and all the way to $6.75 as required.
Comment
Looks like bottom was at $7.26. Buy zone caught it nicely. Now hold for $30 range.
Comment
This trade is looking good, particularly in the context of bitcoin run to 18k and the likely altcoin surge when bitcoin retraces.

Adding a secondary position with new buy zone and more ambitious sell area around $39, based on new count confirmed by where we found the bottom on the most recent wave.

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Comment
Looks like we will break down here to complete a subwave 2 and test the 1D EMA200. Hoping for big support there, around the golden pocket retrace of subwave 1, but possibly as far as the 0.786 which would take us closer to $9. Confident my Buy Zone 2 will get filled. Then we expect to launch into a big subwave 3, hoping for a good launch and new ATH soon. Great buying opportunity here in the next days, for me (my opinion only).

snapshot
Comment
Buy Zone 2 filled nicely and we since reached $25. I will likely only take a portion of profit at $30 as I think this is just getting started.
Comment
Looks like we are in a subwave 5, profit target extended to $58 accordingly.

snapshot
Chart PatternsWave Analysis

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