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Chainlinkusdt

Chainlink Price Poised for a Breakout: Can $LINK Reach $13?Chainlink ( BIST:LINK ), one of the most talked-about cryptocurrencies in the blockchain space, is showing signs of a potential breakout this October. After a volatile few months, the token has seen steady gains, rising from $10.60 to $11.13—a nearly 4% increase within the last week. This upward movement, alongside promising network developments and technical indicators, has investors speculating on whether the token can surpass the $13 mark in the near term. Technical Outlook: Chainlink’s Path to $13 Technically, Chainlink’s price action presents both challenges and opportunities. The token is currently trading below its 200- and 100-day moving averages (MAs), reflecting a cautious market sentiment. However, the narrowing of the Bollinger Bands suggests a breakout could be on the horizon, with $13 as a potential upside target. Additionally, the MACD indicator is converging into a positive territory, hinting at a bullish momentum that may push the price higher in the coming days. Despite some recent bearish signals, including a 2.53% decline as of this writing and a moderate RSI of 50.03, the token has held strong above key support levels. The next major test for Chainlink ( BIST:LINK ) will be overcoming the $12 pivot, a point seen by analysts as a significant resistance. If BIST:LINK breaks through, it could solidify the move to $13, especially given the bullish environment often associated with "Uptober"—a historically favorable month for cryptocurrencies. Drivers of Chainlink’s Growth Chainlink’s recent network upgrades and strategic partnerships are driving its price momentum. The introduction of staking has boosted investor confidence, offering them an opportunity to lock up tokens and earn rewards, reducing the circulating supply and increasing scarcity. Moreover, Chainlink’s Oracle services, which provide secure and reliable off-chain data to smart contracts, have expanded with the integration of Secure Mint. The adoption of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) by major players like Ronin, the gaming-focused EVM blockchain, is further strengthening the network’s ecosystem. As more platforms adopt Chainlink’s technology, the demand for LINK tokens continues to rise. Whale Accumulation and Market Sentiment Chainlink’s whale activity has surged, which is often a bullish signal. According to data from Santiment, the number of large BIST:LINK holders has increased from 489 to 502 in early October. Whale accumulation typically indicates that major investors expect the price to rise in the future, reinforcing the narrative of a potential breakout. Additionally, increased active addresses and transaction volumes reflect growing interest and usage of the Chainlink network. Increased whale activity also raises the possibility of a short squeeze. Many traders currently hold short positions, and if Chainlink ( BIST:LINK ) can break through the $12 resistance, it could force short sellers to cover their positions, leading to a rapid price increase. Potential Risks and Support Levels While Chainlink’s future looks bright, there are risks to consider. The token remains vulnerable to broader market corrections, and a failure to hold above the $10.27 support level could see it retrace further, potentially to the $9.50 mark. Additionally, its underperformance compared to Bitcoin ( CRYPTOCAP:BTC ), which has seen stronger gains in recent days, highlights the possibility of more bearish moves if the overall market sentiment shifts. However, if Chainlink ( BIST:LINK ) can continue building on its network upgrades and overcome key technical hurdles, the stage is set for a strong October performance, with $13 well within reach. Conclusion: Is Chainlink Set for a Rally? As of now, Chainlink is positioning itself for a potential breakout above $13, with the technical indicators and fundamental drivers both supporting an optimistic outlook. Increased whale activity, low exchange reserves, and major network developments all contribute to the bullish sentiment around the token. While the token faces immediate resistance at the $12 pivot, a successful breakout could set Chainlink on a bullish trajectory for the rest of October and beyond.
Long
by DEXWireNews
LINK : MASSIVE Profits Possible from THIS ZONEA Bearish Head and Shoulders pattern formed in the weekly, and we're not quite out of the woods yet - usually, a H&S retraces all the way back to the bottom of the left shoulder. In this case, it falls exactly at the ideal buy back zone: It's good to see that the trendlines are moving CLOSER together - if you look at historic prices, this usually precedes a time of range trading, followed by another impulse wave up. The wider the trendlines are apart, the stronger the sentiment (bearish if under, bullish if above): _____________________________ BINANCE:LINKUSDT
by CryptoCheck-
Chainlink LINK price have potential for x3 growthTweeters have become "active" around #Chainlink They write that over the past 2 weeks, "whales" have bought 10 million CRYPTOCAP:LINK This amount is 1.5% of the total number of coins in circulation now or 1% of the maximum suply. Whether this is a lot or a little, whether it will act as a driving force or not, whether you believe in the project's potential or not - of course, it's up to you to decide. But as long as the OKX:LINKUSDT price is above the blue trend line, the potential for x3 growth by the end of the year remains.
by P_S_trade
2
LINK/USDT Technical Analysis in Weekly Timeframe.Hello everyone, I’m Cryptorphic. For the past seven years, I’ve been sharing insightful charts and analysis. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: The LINK/USDT weekly chart presents a technical analysis highlighting key levels and potential future movements. The update covers a multi-year perspective, focusing on critical support and resistance levels, trendlines, and possible price action patterns. Key Highlights: ~ All-Time High Resistance: The chart marks the all-time high resistance level at $53, setting a target for the bull run. ~ Symmetrical Triangle Formation: The price action since the all-time high in 2021 has formed a symmetrical triangle pattern. Since last March 2024, it has rejected forming a consolidation pattern. ~ Strong Supporting Trendline: Since September 2019, LINK has respected a strong ascending trendline, which has acted as a critical support level through various market cycles. This trendline's integrity is essential for maintaining the long-term bullish structure. ~ Consolidation Zone: The green highlighted area between $7 and $9.5 signifies a significant consolidation zone where LINK has found strong support multiple times. This zone is important for price stabilization and potential accumulation. ~ Price Projection: The chart suggests a possible price decline to the lower end of the consolidation zone ($7) before a potential rebound. This projection aligns with the symmetrical triangle's support, reinforcing the importance of this level. ~ Relative Strength Index (RSI): The RSI indicator at the bottom shows a gradual recovery, currently around 47.11. A move above 50 could signal increasing bullish momentum although there is still room for further decline toward the oversold zone below 30. Sweet Entry for LINK: $6 to $8. Conclusion: The LINK/USDT chart presents a mixed outlook with the potential for both bullish and bearish outcomes. The blue dotted line along with 100EMA holds good support for LINK. A breakdown below this will likely continue the consolidation. DYOR. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE #Chainlink
by Cryptorphic
LINK: up-trend📊Analysis by AhmadArz: This chart shows the ChainLink (LINKUSDT) pair on a 4-hour timeframe. The analysis is as follows: 1. Support and Resistance Levels:** -Resistance:** $17.417, $18.999, and $21.328. -Support:** $14.356 and $12.818. 2. Trading Strategy: -Wait for Pullback:** The price might drop to the support level of $14.356. -Enter Buy Trade:** After the pullback, entering at $14.356 is suggested. 3.Overall Trend:** Uptrend with typical fluctuations. If resistance levels are broken, higher price targets are possible. In summary, wait for a price correction and enter buy trades at support levels. 🔗"Uncover new opportunities in the world of cryptocurrencies with AhmadArz. 💡Join us on TradingView and expand your investment knowledge with our five years of experience in financial markets." 🚀Please boost and💬 comment to share your thoughts with us!
Long
by ahmadarz
Chainlink Breaks Through: Trading Volume Fuel 9% SurgeChainlink (LINK), a prominent player in the decentralized oracle network (DON) space, has defied the broader cryptocurrency market trend with a significant price increase. On May 25, 2024, LINK surged by an impressive 9%, surpassing the $17.50 mark for the first time in six weeks (as reported by Will Izuchukwu). This positive movement comes amidst a period of relative stagnation in the overall cryptocurrency market. Analysts attribute this rally to a confluence of factors, with two key drivers emerging: 1. Increased Trading Volume: A significant surge in trading volume often precedes or coincides with price increases. In Chainlink's case, trading volume over the past 24 hours has jumped by a staggering 78%. This heightened activity suggests renewed investor interest in LINK, potentially fueled by optimism surrounding the project's future or short-term trading strategies. 2. Positive On-Chain Metrics: Beyond trading volume, on-chain metrics provide valuable insights into the health and activity of a blockchain network. While the specific on-chain metrics influencing LINK's price increase remain unreported in the provided excerpt, a positive trend in these metrics could indicate: • Increased Use of Chainlink Network: A rise in the number of active users or transactions processed on the Chainlink network suggests growing adoption and demand for its oracle services. This would be a positive indicator for the project's long-term viability. • Active Development: On-chain metrics can also track development activity on the network. An increase in such activity suggests the Chainlink team is actively working on improvements and new features, potentially leading to future growth. Possible Explanations for the Rise While the specific details behind this surge are unknown, here are some potential explanations to consider: • Market Speculation: The broader cryptocurrency market has been experiencing a period of consolidation following recent volatility. Some investors might be seeking opportunities in undervalued projects, potentially leading to increased buying pressure for LINK. • Positive News or Developments: News of partnerships, integrations, or upcoming protocol upgrades for Chainlink could have sparked investor interest and buying activity. • Technical Analysis: Technical analysts who study historical price charts and trading patterns might have identified bullish signals for LINK, leading to increased buying from this group of investors. Looking Ahead: Can Chainlink Sustain the Momentum? Whether Chainlink can sustain this momentum remains to be seen. The cryptocurrency market is notoriously volatile, and short-term price movements can be difficult to predict. However, the factors driving this surge - increased trading volume and potentially positive on-chain metrics - paint a cautiously optimistic picture. For long-term investors, the key will be to monitor future developments within the Chainlink ecosystem. Continued growth in network adoption, active development from the team, and positive news flow can all contribute to the project's long-term success and potentially lead to further price appreciation for LINK. Conclusion Chainlink's recent price increase signifies a positive development for the project in an otherwise stagnant market. Increased trading volume and potentially positive on-chain metrics are encouraging signs. However, sustained growth will depend on the project's ability to continue delivering value and attracting users to its decentralized oracle network.
COINBASE:LINKUSDLong
by bryandowningqln
Chainlink LINK price is quite strong will it last for long time?🛡 #LINKUSDT trading pair has attracted attention primarily because it has held its price quite well over the past few days, while most altcoins have been feeling “bad” and declining in value. In the future, if buyers will keep #Link price above $15, it will indicate their serious intentions and there is a good chance that the nearest target is a rise to $22 🔼 🔽However, if the #LINKUSD price is allowed to consolidate below $13.25, the red scenario will be activated. This will mean that some crypto investors will suffer, while others will be happy because they will have a chance to buy #Chainlink tokens around $9 _____________________ Did you like our analysis? Leave a comment, like, and follow to get more
by P_S_trade
4
LINKUSD: Potential Long Entry on the Horizon with Bollinger BandIntroduction Chainlink (LINKUSD) is a cryptocurrency that powers a decentralized oracle network for smart contracts. It provides a secure and reliable way for blockchain applications to access off-chain data, enabling a wider range of functionalities. This article analyzes LINKUSD through the lens of Bollinger Bands and a potentially reversing trend, suggesting a possible long entry opportunity in the near future. Understanding Bollinger Bands Bollinger Bands are a technical analysis indicator that utilizes volatility to depict potential price movements. They consist of three lines: • Simple Moving Average (SMA): This line represents the average price over a chosen period. • Upper Bollinger Band (UBB): Two standard deviations above the SMA, indicating potential resistance areas. • Lower Bollinger Band (LBB): Two standard deviations below the SMA, indicating potential support areas. The Bollinger Bands expand and contract based on volatility. High volatility widens the bands, suggesting a more volatile market, while low volatility narrows them, indicating a calmer market. LINKUSD and Bollinger Bands Analyzing the LINKUSD chart with Bollinger Bands reveals valuable insights: • Recent Price Movement: LINKUSD has been trading within a relatively tight Bollinger Band range for the past few weeks. This suggests a period of low volatility, with price movements largely contained within the bands. • Squeeze: The recent Bollinger Band contraction indicates a potential squeeze. Squeezes often precede significant price movements, either upwards or downwards. Reversing Trend Signals Technical indicators alongside Bollinger Bands can strengthen the long entry case for LINKUSD. Here are a couple of reversal signals to consider: • Relative Strength Index (RSI): The RSI is a momentum oscillator that measures the magnitude of recent price changes. An RSI value below 30 suggests the asset may be oversold, potentially indicating a trend reversal. • Moving Average Crossover: A bullish crossover occurs when a shorter-term moving average crosses above a longer-term moving average. This can signal a shift in momentum from bearish to bullish. Combining Bollinger Band Squeeze and Reversal Signals By combining the Bollinger Band squeeze with potential reversal signals from indicators like RSI and moving average crossovers, traders can identify potential long entry opportunities. • Breakout from Upper Bollinger Band: A breakout above the Upper Bollinger Band, following a squeeze, can signal a bullish trend reversal. This suggests the price may overcome resistance and continue upwards. • Increased Volume: If the breakout is accompanied by a surge in trading volume, it strengthens the bullish case, indicating increased buying pressure. Why Consider a Long Entry Now? Here are a few reasons why a long entry in LINKUSD might be worth considering based on the current technical analysis: • Bollinger Band Squeeze: The recent squeeze suggests a potential breakout, which could signal a trend reversal. • Oversold RSI: If the RSI dips below 30, it might indicate oversold conditions, making LINKUSD an attractive buying opportunity. • Positive Developments in the Chainlink Ecosystem: Positive developments within the Chainlink ecosystem, such as new partnerships or integrations, could boost investor confidence and lead to a price increase. Important Considerations Before Entering a Long Position While the technical analysis suggests a potential long entry, it's crucial to consider other factors before making any investment decisions: • Market Volatility: The cryptocurrency market is inherently volatile. Price swings can be significant, and unexpected events can disrupt even the most well-thought-out trading strategies. • Fundamental Analysis: Don't solely rely on technical analysis. Conduct fundamental analysis to understand Chainlink's project roadmap, team, and overall market position. • Risk Management: Always implement proper risk management strategies, such as stop-loss orders, to limit potential losses. Conclusion The combination of Bollinger Band squeeze, potential RSI oversold conditions, and a possible trend reversal suggests a long entry in LINKUSD might be on the horizon. However, remember that technical analysis is not a foolproof method, and fundamental analysis and risk management are crucial for informed investment decisions. Disclaimer: This article is for informational purposes only and should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions.
COINBASE:LINKUSDLong
by bryandowningqln
Cryptolean Chainlink LINK Update After rejecting the key daily resistance zone of $22.10-$23.09, Chainlink found a support at $19.56 that I expect to hold. A bullish reversal from the current price location or after a re-test of $19.56 will result in a bullish move to re-test $22.10-$23.09. A bearish break-out of $19.56, the key daily support, will push LINK price towards the next support at $17.40, however the price action will be slow and choppy. Intraday Chart The LINKUSDT 4-Hour chart is neutral for now, but it is trying to break into the bullish territory above $21.06. A break-out of $21.06 will increase a probability of a bullish move to the key intraday resistance zone of $23.48-$24.42, where I will be closely watching the #Chainlink price action. A bearish rejection of $21.06 will lead to a slow and choppy price action first to $20 and, possibly, lower to the key intraday support at $19. This bearish dip to $20 or $19 could provide a long trade opportunity. Support once read! Thank you!
by Trade-Lean
ChainLink 30% profit projectionChainLink reach support level inside expanding channel up. This support also fibonacci .382 we can follow bullish wave from this level and aim for 30% profit projection at expanding channel up resistance. If this support broken, we can rebuy (martingale) at 15.482 Trading setup : Buy now at around 17.879 Take profit 1 : 20.120 Take profit 2 : 23.264 Martingale : Re-buy at 15.482 Good luck, I will update more if I found new key level. Make sure you support this analysis to get quick notification of any update.
Long
by AzrulAzir
Is chainlink about to moon(10X)Based on the chart: Correction after the impulse started and is a flat correction, so based on my counts, it's either WXY or ABC correction, meaning, we need at least 3 correction cycles for us to confirm that it has ended and we are about to continue being bullish or a reversal is about to happen. So for Link the structure is looking bullish, correction is a continuation correction, at the current price levels we can/might be expecting a price going up from here...
Long
by Theofylrx
14
CHAINLINK ELLIOT WAVE ANALYSIS Navigating this chart poses quite a challenge given the intricacies of the candlestick formations. Despite this complexity, I've endeavored to apply my understanding of Elliott Wave Theory to analyze and potentially forecast future movements. However, I acknowledge the possibility of error, whether it's due to miscounting waves or other factors. I welcome alternative perspectives and suggestions. Upon studying the chart, it appears that CHAINLINK has been undergoing a corrective ABC wave pattern since its inception, reaching a peak in 2021 before embarking on a corrective phase. The analysis becomes particularly nuanced due to nearly a year of consolidation, forming a triangle pattern likely indicative of the final wave C within its correction. If my interpretation is accurate, CHAINLINK has recently completed wave 1 and is poised for a correction with wave 2. This correction may target the 0.764 extension level or potentially fall below it. At present, the short-term trend appears bearish while the long-term outlook leans bullish.
Long
by thekidtrader11
2
LINK - Gearing up for MASSIVE GainsHi Traders, Investors and Speculators of Charts📈📉 For a while now, LINK has been trading in a very clear accumulation phase. This is the zone we see after a bearish cycle and BEFORE a new bullish cycle. Chainlink can be very "wicky", and often the price will go JUST UNDER/OVER the resistance zone, or JUST UNDER/OVER the support zone. This makes it hard to give precise entry points. Working within ranges and choosing the lower part of the range is the safest best to protect against those ugly wicks. Here are some easy setups that guarantee profits during the next bullish cycle - but you will have to have packed-bags in order to bag-in on profits! _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck COINBASE:LINKUSD BINANCE:LINKUSDT
Long
by CryptoCheck-
19
Chainlink's Perfect Entry Point with RSI at 52 Chainlink (LINK) that could potentially skyrocket your trading profits. Brace yourselves, because this is a call-to-action you don't want to miss! Chainlink has recently presented us with a picture-perfect entry point, as the Relative Strength Index (RSI) stands at a tantalizing 52. This indicates a healthy balance between buying and selling pressure, suggesting a potential upward trend shortly. But that's not all! The Awesome Oscillators have remained steadfastly positive, further reinforcing the bullish sentiment surrounding Chainlink. Now, you might be wondering, "What does this mean for me as a trader?" Well, my friends, it means an incredible opportunity to go long on Chainlink and ride the wave of potential profits that lie ahead. With the RSI at 52, we have a favorable entry point that allows us to capitalize on the expected price surge. Combine this with the positive Awesome Oscillators, and we have a recipe for success! So, let's seize this moment and take advantage of Chainlink's promising position in the market. By going long on Chainlink, you can position yourself to potentially reap substantial gains as the price surges. Remember, timing is everything in the fast-paced world of trading, and this could be the perfect moment to strike while the iron is hot. To get started on this thrilling trading journey, I encourage you to take the following steps: 1. Conduct a thorough analysis: Dive deep into Chainlink's market trends, historical data, and any relevant news that could impact its future performance. This will help you make informed decisions and maximize your trading potential. 2. Set up a trading plan: Determine your entry and exit points, establish risk management strategies, and set realistic profit targets. A well-thought-out plan will guide you through the volatility and keep you focused on your trading goals. 3. Execute your trade: Once you have done your due diligence and devised a solid plan, it's time to put it into action. Open your trading platform, select Chainlink, and go long with confidence. Remember, trading involves risks, and it's crucial to exercise caution and trade responsibly. Always consider your own risk tolerance and financial situation before making any investment decisions. Now is the time to harness the potential of Chainlink's perfect entry point with RSI at 52 and Positive Awesome Oscillators. Don't let this golden opportunity slip through your fingers! Get ready to embark on an exciting trading adventure and potentially reap the rewards that await.
by bryandowningqln
Chainlink Wave - Ascending Triangle Signals a Bullish Breakout! I am thrilled to share that Chainlink has been forming an intriguing pattern on the charts - an ascending triangle. This pattern indicates a potential bullish breakout in the near future and presents an excellent opportunity for traders like us to capitalize on this upward trend. So, fasten your seatbelts, my friends, because we are about to embark on an exhilarating ride! For those unfamiliar with an ascending triangle, it is a bullish continuation pattern characterized by a series of higher lows and a horizontal resistance level. As the price consolidates within this pattern, the pressure builds up, setting the stage for an explosive breakout. With Chainlink's recent price action, it becomes evident that the bulls are gaining strength and are ready to push LINK to new heights. Now, you might be wondering, why Chainlink? Well, let me tell you why this cryptocurrency has caught my attention. Chainlink has established itself as a leader in the decentralized oracle space, providing reliable and secure data to smart contracts across various blockchain platforms. Its innovative technology and partnerships with major players in the industry have positioned it as a key player in the rapidly growing DeFi ecosystem. Considering the rising demand for decentralized finance and the increasing adoption of smart contracts, Chainlink's value proposition becomes even more compelling. As the market continues to recognize the importance of reliable data feeds, Chainlink's role as a bridge between the real world and blockchain technology becomes increasingly vital. So, here's the call-to-action, my fellow traders: it's time to go long on Chainlink! With the ascending triangle pattern signaling an imminent breakout, now is the perfect moment to position ourselves for potential gains. By taking advantage of this bullish momentum, we can ride the Chainlink wave and potentially reap substantial profits. Remember, as traders, we thrive on seizing opportunities when they arise. Chainlink's ascending triangle pattern is a clear indication that the time to act is now. So, let's dive into the market, set our stop-loss orders strategically, and ride the wave of potential profits that Chainlink promises. As always, please conduct your own research and consult with your trusted financial advisor before making any investment decisions. The cryptocurrency market can be volatile, but with careful analysis and a well-executed strategy, we can navigate these waters and come out on top. Wishing you a successful trading journey ahead!
COINBASE:LINKUSD
by bryandowningqln
2
Seize the Potential of Chainlink with EMA 20 for Incredible Gai I am here to present you with an exceptional opportunity that promises to revolutionize your portfolio and take your gains to unprecedented heights. Chainlink, a true gem of a project in the blockchain universe, has caught our attention and should undoubtedly catch yours too. With its recent surge and the Extra Moving Average (EMA) 20 indicator looking remarkably attractive, the stage is set for an exhilarating adventure into the land of Chainlink. This golden EMA 20 - indicating a bullish trend - acts as a beacon for new buyers, beckoning them towards a potentially profitable journey. Let me be clear - this is not just another hyped-up project! Chainlink has consistently demonstrated its strength and resilience within the market, boasting a strong track record and earning the trust of both traders and industry experts. Its fundamental technology, harnessing the power of smart contracts, ensures transparent and secure transactions with immense potential use cases across various industries. So, here's the call-to-action - Join the Chainlink revolution NOW and witness your trading strategies soar to new heights! Seize the moment and embark on this thrilling journey with strength, courage, and conviction. Take advantage of the EMA 20 indicator, which tells a promising story about the future of Chainlink, showing great potential for substantial gains. Whether you're a seasoned trader or just starting out, Chainlink promises an exciting adventure filled with astounding profit possibilities. Don't let this opportunity slip through your fingers. Embrace the spirit of exploration, the thrill of the market, and the allure of a technology that has the potential to reshape the way we interact with the digital world. Ready to dive into the world of Chainlink? Take that leap of faith today! Let your trading journey be guided by the energy and excitement that Chainlink harnesses. Feel the surge of adrenaline as your profits skyrocket alongside the growing demand for this game-changing cryptocurrency.
COINBASE:LINKUSDLong
by bryandowningqln
LINK Weekly Analysis - Are we about to Reverse to the Downside?Chainlink had a fantastic breakout of the Weekly 200EMA closing two weekly candles above it. We're about to close a third bullish weekly candle in a row, so should we long at this level? Not so fast! As a trend continues your probability of profit increases in that direction, but that's in exchange for greater risk because your stop loss must be placed under the bull bars. Eventually, that formula is no longer sustainable because more traders stop entering as the risk grows and the trend reverses. In this case, a tight stop placement would be at $7.00, and a riskier but still reasonable stop placement would be at $9.00 just below the 200EMA. The current price is almost at $16.00, longing here would give you at best a 2:1 Risk/Reward Ratio, which is a fine scalp but given the following key points, I would wait. Key Points 1. Strong bounce off of Weekly Support led to a bull breakout! 2. Price is in contact with a Weekly Resistance Zone 3. Bitcoin as a leading indicator, has not confirmed its breakout of Weekly Resistance 4. RSI is overbought. Wait for a pullback to enter Long. I believe we need more price action before we can long, but I would also not short until we see a reversal bar closing on or near its low. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
by TraderEngineering