ChainLinkLong
LINK - It is time
Updated
Link has been consolidating in the same tight zone for 330 days. After that long period of accumulation, I predict the move up will probably be large and sustained for at least 2-3 big legs up.
The problem is that we've had 3 fake-outs where price closed above $8.5 and then dumped hard right after. With that in mind, I plan on buying the next time LINK closes above 8.5 and cutting my losses if I see it close back below the support/resistance (S/R) zone highlighted in red, meaning below $8.
If the breakout is real, a I think and hope it is, then I intend to take profits between $19-20, and keeping the rest for the possibility that LINK becomes a beartime runner again, like last time.
The problem is that we've had 3 fake-outs where price closed above $8.5 and then dumped hard right after. With that in mind, I plan on buying the next time LINK closes above 8.5 and cutting my losses if I see it close back below the support/resistance (S/R) zone highlighted in red, meaning below $8.
If the breakout is real, a I think and hope it is, then I intend to take profits between $19-20, and keeping the rest for the possibility that LINK becomes a beartime runner again, like last time.
Note
Close to breaking out. The trade goes live if the daily candle closes above 8.5.
Note
no close above 8.5, and it really looks like LINK pumping and threatening a breakout is the harbinger for market wide crash. FOURTH TIME THIS HAS HAPPENED.
F O U R T H
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Note
The red scenario played out pretty perfectly. This year long LINK range is maddening. Semper fi, marines. WAGMI, then wagyu.
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