Counterargument - Every idiot on Twitter is posting the same meme chart. Never a good sign
Meaningful levels - stop loss at 188874, targeting 33372 and 44659
Time period - 1 month
It's looking like LINK will bounce at a lower level. I'm looking to buy at confirmation, or buy at a lower support level in the next few days.
It seems highly likely to me that this will move down to the 18-17 level before rebounding. 15 seems a little low given the "big event" narrative being put out there in the coming weeks.
I really need to work on my entries. Perhaps it would make sense to get in at a higher level (20's again) where an uptrend would need to be 'confirmed'... I sincerely doubt it would go that high from here unless we're seeing a change in direction.
My thinking is that it's not gonna hit this price unless it's back in an uptrend. If it keeps ranging downwards, then I simply stay in BTC. Previous price action suggests it would trend up with some momentum before i need to worry too much.
I could care less about making maximum profit! One thing I have learnt in 2 years of crypto is that you must temper greed with emotional detachment!
Would rather 'set and forget' and have no stress, than sit red-eyed at the screen trying to gobble up every pip.
+ Market structure is generally a more important factor than 'patterns' or fractals.
+ The massive wicks seen in July were indicative of a top.
+ Always wait for confirmation before diving into a trade, if possible...