Chainlink(LINK): Will We See Good Short Setup or Not?

Chainlink is at pressure where we have reached the end zone of triangle formation.

We are looking here for a clean breakdown of the 100EMA & support zones and a movement to the 200EMA to test it and potentially break it as well!

Swallow Team

Comment:

Despite the last daily candle closure below 100 EMA, we are not looking for a confirmation candle, which should also close below 100 EMA.

If we see this kind of movement, we will be looking more into short positions!

Comment:

Although the last daily closed below 100 EMA, there were not yet enough confirmations (as the opening and closing prices were too close to each other).

We are looking for the next daily candle to see how it will lose, and from there on, we will be looking for further opportunities for a trade!

Comment:

Chainlink has done a really nice breakdown, which resulted in a nice 24% market price movement right here!