The price has been moving in a small descending channel. The area to watch is marked with green on the chart, if we have a strong breakout @ 1.5 area then I'm expecting more upside. The main targets in that case remain the same as in my previous analysis (with minor corrections). That is, of course, if BTC behaves. In my opinion RSI supports my idea of more upside, as there seems to be some power left (also marked with green on the RSI chart).
Good luck trading and stay safe! This is not a financial advice.
So you think we could trade to 2.6 area by tomorrow and the downside target is 1.54, is that correct?
maar3k
⋅
@ich1baN, currently closed my long position, waiting for the breakout from the 1.5 area before deciding on going back long again. Tbh I am now unsure wether my targets will be hit as the markets are very violatile due to the virus and BTC seems heavily correlated to the SPX which also effects LINK. The price action of SPX and therefore BTC seems to slow down also as of now. I recommend you to play it very safe with tight stops if you feel like longing LINK atm and check my latest idea of LINK where the graph is shown in a shorter timeframe for a clearer picture. BTC seems like a safer option now tbh.