Hey everyone, a lot of people have been really enjoying the
LINKBTC
volatility and have made some great gains. We just want to shed some light on the current price and what we think.
First off, this entry may be too far gone, an entry at exactly the 0.786 Fibonacci Level would have been ideal after it showed some supporting power a couple days ago. Nevertheless, price could return to this point and as long as it remains supportive, the position is still valid.
As you can see, this Fibonacci Level lines up quite perfectly with early 2019 peaks, where they are now considered support levels. Yes, this does say BUY BUY, but slow down.
The first thing you want to take into account: declining volume.
The second thing you want to take into account: downtrending RSI.
The third thing (we love to) you want to take into account: Ichimoku is screaming downtrend.
Not trying to be downers, but if you are going to take a position similar to this, be careful. Use confirmation via the RSI and volume. Today has been a strong day for LINK, and the volume so far seems healthy. (14:08 EST this is posted)
Entry: 15000 Sats
Take Profit 1: 18200 Sats
Take Profit 2: 20100 Sats
Feel free to leave your comments we'd love to hear some feedback and your opinions.
- Balkoins
LINKBTC
volatility and have made some great gains. We just want to shed some light on the current price and what we think. First off, this entry may be too far gone, an entry at exactly the 0.786 Fibonacci Level would have been ideal after it showed some supporting power a couple days ago. Nevertheless, price could return to this point and as long as it remains supportive, the position is still valid.
As you can see, this Fibonacci Level lines up quite perfectly with early 2019 peaks, where they are now considered support levels. Yes, this does say BUY BUY, but slow down.
The first thing you want to take into account: declining volume.
The second thing you want to take into account: downtrending RSI.
The third thing (we love to) you want to take into account: Ichimoku is screaming downtrend.
Not trying to be downers, but if you are going to take a position similar to this, be careful. Use confirmation via the RSI and volume. Today has been a strong day for LINK, and the volume so far seems healthy. (14:08 EST this is posted)
Entry: 15000 Sats
Take Profit 1: 18200 Sats
Take Profit 2: 20100 Sats
Feel free to leave your comments we'd love to hear some feedback and your opinions.
- Balkoins
Trade closed: target reached:
Both take profit areas reached.