Per the chart you can see a breakout from triangle on the 4hr chart. Lower wicks of the following candles have approached tests of the breakout have bounced near the top-line. I expect LINK to trade above it with moves going back towards $2.00 or 21200 Sats. A trading range around 19200-22000 sats is what I am expecting before continuing price discovery. Trading range seems volatile but is within the expected 10% move within a correction/pull back scenario before continued uptrend. I currently have a long term hold position and entered a scalp position at 18700 sats or at the time roughly $1.70. A stop at 18450 is viable as it would fall back into the triangle and breakdown towards 17420 at next BTC support with the double bottom on the 4hr chart. IF a trade were to be placed now at 20660 stop at level indicated would represent a near 10% loss and versus a potential break at 24200 if we were to breakthrough BTC high and continue price discovery would represent a BTC gain of 20%+. 2/1 risk reward would occur at closing position at 24200 or can become 3/1-4/1 with a clear breakout and continuation of price discovery.
Thank you and would appreciate likes, comments, and follows to be able to continue to better my research and posts.
THIS IS MY ANALYSIS AND NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH AND JUST COMPARE AND CONTRAST YOUR FINDINGS WITH MINE.
Thank you and would appreciate likes, comments, and follows to be able to continue to better my research and posts.
THIS IS MY ANALYSIS AND NOT FINANCIAL ADVICE. PLEASE DO YOUR OWN RESEARCH AND JUST COMPARE AND CONTRAST YOUR FINDINGS WITH MINE.