LINK/BTC - Ascending Triangle - 85.86% Profit Potential
Hello Future Millionaires!!!
LINK has just seen a pullback to the 0.5 Fibonacci on the daily. It then bounced straight up to the 0.382 Fibonacci where it has been finding resistance.
We can see an ascending triangle forming on the daily and the measured move has confluence with daily resistance zone around 75000 sats.
We are currently sitting on strong daily support and are at the bottom of a triangle formation on lower time frames.
Lower time frame oscillators are getting into the oversold range and are looking like they want to flip around to the upside. If those oscillators start to turn up in unison, we start closing above some of the lower time frame moving averages, and volume increase, then I suspect the target will be met, then surpassed!
This is a simple buy support, sell resistance trade using Fibonacci. support/resistance zones, momentum oscillators, and patterns to offer up an edge!
A better risk:reward trade setup would be to wait for price to touch the 0.5 Fibonacci/yellow diagonal trend line on the bottom side of the ascending triangle. However, price may not go back down that far.
Let's get this crypto!
---
Entry: 0.00066046
T1: 0.00067500
T2: 0.00068500
T3: 0.00069000
T4: 0.00071500
T5: 0.00073000
T6: 0.00074500
T7: 0.00075500
Stop: 0.00064495
--
R:R: 3.68
Risk: 3.89%
Reward: 14.31%
Leverage: 6X
Leveraged Risk: 23.34%
Leveraged Reward: 85.86%
---
Guide to My Charts
-The purple lines are horizontal support/resistance lines.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier red lines may are typically smaller time frame trends (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 200EMA, White: 200SMA, Maroon: 377EMA.
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile (HVP), RSI, and/or stochastics indicators are below the chart if displayed.
---
Please leave a like and comment if you find value in this post! It shows me who that people are interested and helps motivate me to share more thorough technical analysis with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my trade ideas and are intended for educational purposes only.
LINK has just seen a pullback to the 0.5 Fibonacci on the daily. It then bounced straight up to the 0.382 Fibonacci where it has been finding resistance.
We can see an ascending triangle forming on the daily and the measured move has confluence with daily resistance zone around 75000 sats.
We are currently sitting on strong daily support and are at the bottom of a triangle formation on lower time frames.
Lower time frame oscillators are getting into the oversold range and are looking like they want to flip around to the upside. If those oscillators start to turn up in unison, we start closing above some of the lower time frame moving averages, and volume increase, then I suspect the target will be met, then surpassed!
This is a simple buy support, sell resistance trade using Fibonacci. support/resistance zones, momentum oscillators, and patterns to offer up an edge!
A better risk:reward trade setup would be to wait for price to touch the 0.5 Fibonacci/yellow diagonal trend line on the bottom side of the ascending triangle. However, price may not go back down that far.
Let's get this crypto!
---
Entry: 0.00066046
T1: 0.00067500
T2: 0.00068500
T3: 0.00069000
T4: 0.00071500
T5: 0.00073000
T6: 0.00074500
T7: 0.00075500
Stop: 0.00064495
--
R:R: 3.68
Risk: 3.89%
Reward: 14.31%
Leverage: 6X
Leveraged Risk: 23.34%
Leveraged Reward: 85.86%
---
Guide to My Charts
-The purple lines are horizontal support/resistance lines.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier red lines may are typically smaller time frame trends (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 200EMA, White: 200SMA, Maroon: 377EMA.
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile (HVP), RSI, and/or stochastics indicators are below the chart if displayed.
---
Please leave a like and comment if you find value in this post! It shows me who that people are interested and helps motivate me to share more thorough technical analysis with the community!
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my trade ideas and are intended for educational purposes only.
Comment:
Here we can see that 1H and 2H stochastics have flipped to the upside. If the 3H/4H do the same, we'll likely have enough inertia stored to break through resistance:
Comment:
Meassured moves for the ascending triangle on the daily:
Comment:
The yellow 1H 21EMA has strong confluence with the top side diagonal trend line. Closing above the 21EMA could be the catalyst for the break of the ascending triangle. However, in the shorter term, if price breaks down from the descending triangle that can be seen on the lower time frames, I might cut my losses around 0.00065310 sats and look to re-buy at the bottom yellow trend line of the ascending triangle.
Comment:
Possible re-buy area for a better risk:reward setup should price break down from the smaller time frame descending triangle.
Comment:
Man, I love trading! Cryptoguru369 strikes it hot again! 49.55% gains and going in under 8 hours!
We can see that after we started closing above the 1H 21EMA, and all the lower time frame momentum oscillators turned up, we broke trough the next resistance zone (see the two horizontal purple lines) and now may be consolidating above old resistance, flipped support!
We can also see that price spiked up to the 1H 377EMA and is now siting on the white 200SMA as support.
Let's get this crypto!
T1: 0.00067500 - HIT!!! (13.2% Gain)
T2: 0.00068500 - HIT!!! (22.29% Gain)
T3: 0.00069000 - HIT!!! (26.84% Gain)
T4: 0.00071500 - HIT!!! (49.55% Gain)
We can see that after we started closing above the 1H 21EMA, and all the lower time frame momentum oscillators turned up, we broke trough the next resistance zone (see the two horizontal purple lines) and now may be consolidating above old resistance, flipped support!
We can also see that price spiked up to the 1H 377EMA and is now siting on the white 200SMA as support.
Let's get this crypto!
T1: 0.00067500 - HIT!!! (13.2% Gain)
T2: 0.00068500 - HIT!!! (22.29% Gain)
T3: 0.00069000 - HIT!!! (26.84% Gain)
T4: 0.00071500 - HIT!!! (49.55% Gain)
Comment:
The market has blessed us again and we are thankful for all the abundance we receive! Flying on an attitude of gratitude!!!
Follow us now to keep up with the latest and greatest TA in the cryptosphere! Life changing opportunities abound!
Follow us now to keep up with the latest and greatest TA in the cryptosphere! Life changing opportunities abound!
Comment:
Price is being held up by the white 4H 200SMA as well. If we start closing above it, we should see some of the other, if not all, of the targets hit!
Comment:
This hidden bullish divergence could push price all the way back to the very top of the range! Let's go LINK bullz!
Comment:
We are playing out some bearish divergence on the lower time frames and appear to be testing the top of the ascending triangle formation. If we can hold the yellow line as support, then we should bounce back to the purple resistance box, then hopefully pierce all the way through it!
Comment:
LINK/BTC came down to the top of the ascending triangle and bounce, at least short-term. That support zone also has confluence with the 0.5 Fib from the recent impulse and the 1H 10SMA. The more confluence we see in any one zone, the more likely that area is to hold.
If we start closing smaller time frame candles below the top of the ascending triangle, then we'll likely visit the support zone where the entry was. One could lock-in profits upon price piercing through the yellow line and/or after a candle close. That said, I'm hoping the bullz bull through, but best to be prepared for every eventuality. That way you can maximize your profits!
Trading is so much fun and can provide life changing financial opportunities once you earn your stripes!
If we start closing smaller time frame candles below the top of the ascending triangle, then we'll likely visit the support zone where the entry was. One could lock-in profits upon price piercing through the yellow line and/or after a candle close. That said, I'm hoping the bullz bull through, but best to be prepared for every eventuality. That way you can maximize your profits!
Trading is so much fun and can provide life changing financial opportunities once you earn your stripes!
Comment:
And we're still alive, even after this most tumultuous shake out! LINK bullz are relentless! Stack dem sats baby! Stack 'em!
Comment:
T5: 0.00073000 - HIT!!! (63.17% Ga1n)!!!
CryptoGuru369 srtikes again! Who gets this cryto like the yedi! Nobody!
CryptoGuru369 srtikes again! Who gets this cryto like the yedi! Nobody!
Comment:
T1: 0.00067500 - HIT!!! (13.2% Gain)
T2: 0.00068500 - HIT!!! (22.29% Gain)
T3: 0.00069000 - HIT!!! (26.84% Gain)
T4: 0.00071500 - HIT!!! (49.55% Gain)
T5: 0.00073000 - HIT!!! (63.17% Ga1n)
What a spectacular trade! I am so thankful for the markets and the opportunity to trade during this most adventures of tim3s!
Yeehaw!
T2: 0.00068500 - HIT!!! (22.29% Gain)
T3: 0.00069000 - HIT!!! (26.84% Gain)
T4: 0.00071500 - HIT!!! (49.55% Gain)
T5: 0.00073000 - HIT!!! (63.17% Ga1n)
What a spectacular trade! I am so thankful for the markets and the opportunity to trade during this most adventures of tim3s!
Yeehaw!
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