LINK - A brief analysis
Updated
Quick one this morning.
"Sometimes good things fall apart so better things can fall together." - Marilyn Monroe
LINK was once a monster, with questionable merit granted, but the numbers don't lie.
Since it's peak we've seen steady declines. Historical support was just smashed through the other day.
I'm predicting further declines. LINK tends to trade on fib levels, the ole' self fulfilling prophecy, so below $8 I'd start eyeing the buying.
We're also seeing a pretty steep downward channel being formed. Breaking out of this around the buy level would be my trigger to make a move.
BUYING IN?
Not right now. Clear downward channel and not enough signs of a strong reversal. Recent historical support broken and like it's fib levels so this is probably just a stop on the overall drop today.
When I do buy, I'd be aiming around 12.25 & $16.75 for TP points. Though I don't expect miracles here: LINK has come back to earth with a thud and I would be surprised if it didn't scare a lot of the more sensitive folk off.
Good luck, be safe, and have a great day.
"Sometimes good things fall apart so better things can fall together." - Marilyn Monroe
LINK was once a monster, with questionable merit granted, but the numbers don't lie.
Since it's peak we've seen steady declines. Historical support was just smashed through the other day.
I'm predicting further declines. LINK tends to trade on fib levels, the ole' self fulfilling prophecy, so below $8 I'd start eyeing the buying.
We're also seeing a pretty steep downward channel being formed. Breaking out of this around the buy level would be my trigger to make a move.
BUYING IN?
Not right now. Clear downward channel and not enough signs of a strong reversal. Recent historical support broken and like it's fib levels so this is probably just a stop on the overall drop today.
When I do buy, I'd be aiming around 12.25 & $16.75 for TP points. Though I don't expect miracles here: LINK has come back to earth with a thud and I would be surprised if it didn't scare a lot of the more sensitive folk off.
Good luck, be safe, and have a great day.
Note
The general market rebounded yesterday, LINK continued to sink.Might want to move that buy zone lower... Definitely wait for a breakout of the trendline before doing ANY buying here.
Note
We dipped into our buy zone yesterday, marked with the strongest green volume rebound day we've had since the 10th of sept.Notice a big difference between these two days? sept 10th was a downward hammer, showing a heavy sell pressure at the upper level brought the price back down before earth. We saw steady declines from this point.
Could be a shifting of the tides?
Note
Correction: It was a shifting of the tides. Hope some people bought in the buy zone and made some money :)Note
Did I aim to high with my TP's? Time will tell us..
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
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