LINK - Possible Melt-Up Scenario, 20% Scalp Idea

LINK has been hot of late and has showed little signs of slowing. Since breaking the uptrend in August, it has come back with a vengeance. The price action is in a bit of a rising wedge as it inches itself higher to the uptrend. Normally, a rising wedge is a bearish pattern. However, the OBV looks very bullish to me, which suggests we may have a serious push up in the price soon. And to be honest, it will need a lot of volume to get beyond the resistance of the previous uptrend. The price action also looks to be in the early stages of melt-up or parabolic scenario. The goal with this trade is to scalp 20% if we get a strong push up in the price. Here's the trade:

Enter: .000232
Exit: .00028
Gain: .0000482 or 20.8%
SL: .00022, or 5%
RRR: 1:4

Let's see what happens! If we have a pull back to support, this trade could take up to a week. Also, always be aware of Bitcoin. A hard jump or dump could impact this trade. Make sure you have that stop loss in place.



Did my idea help you make a successful trade?
Donations are always welcome and much appreciated!
BTC : 136dZZ2XyUirYUX1nUXwrU6sGgaBNPiFnU
ETH : 0x2fda8b3ebf9f03078d2e4657ebca5c41ed020bf6
XRP : rPVMhWBsfF9iMXYj3aAzJVkPDTFNSyWdKy Tag: 395032582

Comment:

LINK/USDT looks beautiful

Comment:

LINK is catching some serious resistance at .00024. I took some profit off the table on the chance of a pullback.

Comment:

This trade worked out perfectly!