Hey Friends,
There has been some bullish chatter regarding ChainLink (LINK) recently.
LINK/USDT appears to have formed a market structure bottom having bounced twice off the 200-day SMA area (purple line), as seen in the daily logarithmic chart below.
The bullish momentum appears to be accelerating, and Coinbase has recently added ChainLink, which is attracting more buyers.
My trading idea is to buy around current levels (or even wait for a dip) with a stop loss order around $2.00, an initial target around resistance near $2.75, and a secondary target slightly under the highs, near $4.00.
There is also a decent chance that it breaks the highs, since there are some big players behind this high volume, liquid market.
As seen in the daily LINK/USD chart, the accumulation/distribution line is climbing, showing that the bulls are heavily accumulating, the MACD is making a bullish cross above the zero line,
Willy is heading up towards overbought (but could be a sign of strength in this case), and the Fisher Transform Indicator is bullish.
A common strategy is to sell half of one’s trading position at or near a double, and ride any additional gains on top of that while keeping a trailing stop loss.
Always remember to exercise proper risk management, and don’t invest more than you can afford to lose.
There has been some bullish chatter regarding ChainLink (LINK) recently.
LINK/USDT appears to have formed a market structure bottom having bounced twice off the 200-day SMA area (purple line), as seen in the daily logarithmic chart below.
The bullish momentum appears to be accelerating, and Coinbase has recently added ChainLink, which is attracting more buyers.
My trading idea is to buy around current levels (or even wait for a dip) with a stop loss order around $2.00, an initial target around resistance near $2.75, and a secondary target slightly under the highs, near $4.00.
There is also a decent chance that it breaks the highs, since there are some big players behind this high volume, liquid market.
As seen in the daily LINK/USD chart, the accumulation/distribution line is climbing, showing that the bulls are heavily accumulating, the MACD is making a bullish cross above the zero line,
Willy is heading up towards overbought (but could be a sign of strength in this case), and the Fisher Transform Indicator is bullish.
A common strategy is to sell half of one’s trading position at or near a double, and ride any additional gains on top of that while keeping a trailing stop loss.
Always remember to exercise proper risk management, and don’t invest more than you can afford to lose.