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HolRiz
Mar 24, 2024 2:43 AM

LINK (Chainlink) - Daily Bullish Head and Shoulders Breakout Long

BITMEX:LINKUSD.P1D
Chainlink / US Dollar Perpetual Quanto Swap ContractBitMEX

Description

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On LINK Daily chart, inverse head and shoulders pattern is displayed.

Neckline has been broken upwards. We've retested the neckline and found support holding above it.

  • Target for this trade is $30.00 (+65%).
  • StopLoss: $12.00 safer (-35%), or $15.00 (-18%) more risky (BITSTAMP:BTCUSD could crash down and bring this further down)
  • Immediate entry or DCA enter $18, $17.5, $17.

Chart Patterns
Comments
florasora
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Oh wow, nice find!
similarTuna31284
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$19.41 is the current resistance. When it breaks this, it’s gonna run to the old high of just under 23 pretty quick.
similarTuna31284
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That’s a very big head and shoulders pattern link looks like it’s just going to explode to the upside the more this goes sideways the higher the target price but right now I would say a little higher than your 30
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