LINK has open and closed (wick to wick) on the 1D above its ATH
Link has open and closed (wick to wick) on the 1D above its ATH.
In that period on the 4H it successfully tested the ATH with conviction. Can we say definitively it has flipped the ATH to support? Probably not. Needs to retest on the 4HR one more time or confirm support on a full 1D candle.
BUT it has even MORE positive things going for it. Besides the above!
Like...
1. It has tested and bounced hard up off the 20d MA
AND/OR
2. It is moving in a nice (and tight) tight ascending channel. Not to steep, but steep enough to benefit from the guidance of the 20d MA.
My thesis: It might have to retest/confirm prior ATH on 4H and it'd be safer to unload stacks after it closes two b2b 1D candles above the ATH (which it will do in a couple of hours). But otherwise....
LINK IS UNCHAINED (get it) from ALL previous gravitational force!!!
Time to turn on the afterburners.
Happy Trading.
I'm not a financial advisor and do this just for fun. In fact, do anything BUT listen to me.
In that period on the 4H it successfully tested the ATH with conviction. Can we say definitively it has flipped the ATH to support? Probably not. Needs to retest on the 4HR one more time or confirm support on a full 1D candle.
BUT it has even MORE positive things going for it. Besides the above!
Like...
1. It has tested and bounced hard up off the 20d MA
AND/OR
2. It is moving in a nice (and tight) tight ascending channel. Not to steep, but steep enough to benefit from the guidance of the 20d MA.
My thesis: It might have to retest/confirm prior ATH on 4H and it'd be safer to unload stacks after it closes two b2b 1D candles above the ATH (which it will do in a couple of hours). But otherwise....
LINK IS UNCHAINED (get it) from ALL previous gravitational force!!!
Time to turn on the afterburners.
Happy Trading.
I'm not a financial advisor and do this just for fun. In fact, do anything BUT listen to me.
Trade active:
Well. Its definately broken its ATH. But the anticipated 'pop' is definately being diluted by this run on Defi and ETH beating it to the punch on its ATH.
Nothing to fear. In fact this will probably be healthy mid-term. It will definately give us link marines more time to unwind some other positions and double down on link.
I see very little to NO downside risk putting money into LINK. It spent as much time as ETH confirming its new levels. The only difference is that LINK didn't get the pumping affect that ETH did because it didn't have the 1mill short squeeze positions that ETH did when it broke above $1,450.
NOT ADVICE. JUST THINKING OUT LOUD FOR MYSELF.
Nothing to fear. In fact this will probably be healthy mid-term. It will definately give us link marines more time to unwind some other positions and double down on link.
I see very little to NO downside risk putting money into LINK. It spent as much time as ETH confirming its new levels. The only difference is that LINK didn't get the pumping affect that ETH did because it didn't have the 1mill short squeeze positions that ETH did when it broke above $1,450.
NOT ADVICE. JUST THINKING OUT LOUD FOR MYSELF.