CoinRepoMan
Short

LINK/USD 1D: Neutral, but inclined to short

BINANCE:LINKUSD   ChainLink / US Dollar (calculated by TradingView)
*Not financial advice.*

Entry: $2.50 - 2.55
Stop: $2.80
TP: $1.65 - 1.50

Analysis:
-200d BB 1.25 stdev is visually very wide, would require an enormous amount of volume for a trend continuation move right now.
-1.25 stdev pivot now acting as resistance (previously support)
-50d BB 1.25 stdev likely to expand here. Long term compression, short term expansion. No implied direction, but is hinting at a move very soon. (shown via BB width )
-RSI is neutral. **The trough following Sibos 2017 had this same trough for the RSI , and the succeeding move resulted in a 10x increase. Same here would be $20.00. This would be the contingency plan for a short**
-Declining volume
-Pitchfork channel also acting as resistance currently.
-

Comment: refer to my previous posts to see how this pitchfork has proved itself through time
Comment: Currently closed this trade to a roughly 20% gain (2x leverage). Will reopen if presentation today is a dud.
Comment: At it again. This ship is going down.
Trade active: watching for this dump to continue
Trade closed: target reached: Short was closed yesterday amid rise in BTC/USD. Depending on Bitcoin's movement, may or may not continue trade.
Comment: Back to shorting
Comment: Short closed. Looking to long.
Trade closed manually
The EWers charted either this drop to 1.50 or straight to $5-$6 ... wouldnt that be awesome?
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CoinRepoMan bitcoincoffee
@bitcoincoffee, it sure would.
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Surprised how well this pitchfork has held up, great analysis chad
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CoinRepoMan Composition
@Composition, mhm, same pitchfork for almost a year.
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