ChainLink / TetherUSUpdated LINKusdt / perp -- potential breakout
Another breakout i've been watching. Linkusdt has found its way in to a nice little choke point. While the buyers appear strong and the sellers are weakening, btc setting up for a potential retrace has me a bit skittish. Therefor, I would be waiting for price to push up over 27 and look for an entry on the retest. This could be accomplished with a buy stop if it looks like it's going to be an explosive breakout (multiple hammers running up, big greens, etc).
Alternatively, if there is a break in market structure, it could prove to be a decent short as well. Look for a break of the trendline for that option.
Alternatively, if there is a break in market structure, it could prove to be a decent short as well. Look for a break of the trendline for that option.
Note
Well then...about an hour after i post this it breaks 27...Note
Looking for an entry around 26.85 or so.Note
I would not be surprised to see this come back to 27.50 or so before pushing through the resistance.
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