LINK – Bearish Cooldown Into 11.0, Eyes on Local Support Retest
Chainlink is cooling off after a strong squeeze, and the recent liquidity grab opens the door for a clean retest of the local support zone.
Why This Level Matters:
Price spiked into 13.3 before rejecting hard and fading back toward the 11.0 support band. This zone has acted as a decision point twice already, making it the key level price is now heading straight for.
Gameplan / Primary Scenario:
The main setup targets a move down into the local support around 11.0, which we expect to be tapped by the end of the week. Once price reaches that zone, two setups open up: a bounce continuation off support, or a break and retest for continuation lower. We stay patient and let price hit the zone first, then react to how it holds.
If this added value, boost it forward. What are your thoughts?
Swallow Academy
Why This Level Matters:
Price spiked into 13.3 before rejecting hard and fading back toward the 11.0 support band. This zone has acted as a decision point twice already, making it the key level price is now heading straight for.
Gameplan / Primary Scenario:
The main setup targets a move down into the local support around 11.0, which we expect to be tapped by the end of the week. Once price reaches that zone, two setups open up: a bounce continuation off support, or a break and retest for continuation lower. We stay patient and let price hit the zone first, then react to how it holds.
If this added value, boost it forward. What are your thoughts?
Swallow Academy
🚨Years on charts build the habit of sensing psychological market direction. So far working :)
Telegram: t.me/+fiEDSn7M9pJkODA0
Telegram: t.me/+fiEDSn7M9pJkODA0
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🚨Years on charts build the habit of sensing psychological market direction. So far working :)
Telegram: t.me/+fiEDSn7M9pJkODA0
Telegram: t.me/+fiEDSn7M9pJkODA0
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.