I'm fairly new to TA so take this idea with a grain of salt. With that in mind these are the potential options I personally see playing out. Most of the information is on the chart.
I think a buy in around $2.66-.68 with a stop right below $2.65 is great risk/reward. If it breaks $2.65 wait to see the test of $2.50 support and if we get a nice bounce do the same there.
Thanks for checking out my idea! I would love to read your thoughts on it.
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It broke $2.65 support. I wouldn't be comfortable buying in again unless we test $2.53. Though upward movement is possible even with the break if BTC also moves up hard.
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Bounce off of $2.54 in play. I would watch for a 15min higher low as a potential entry with a tight stop around $2.49-.52. We will of course be dependant on BTC's price action. Sideways movement may give LINK bulls some time to build steam for a move, but hard enough down and we could certainly break support. Keep that in mind and set those stops.
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Came back down to $2.51, but still technically within the support area. A proper 15 min trend change on link and btc may be whats necessary to see better movement upward.
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short term outlook
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Could LINK be fulfilling a broken 5-3 pattern? Check out this chart on the idea. It lines up with a bullish cup and handle.
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Looks like we're making moves. I'd say look for a test at $2.76-.77, if we can break that level we can head back towards $2.88-.89.
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Moving stops up to just below $2.685 where hourly support is wouldn't be a terrible idea. The chance we're going down is much lower than it was in the $2.50's but you still never know for sure. Some profit is better than none.
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short-term update
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Something we need to watch out for. Click the chart for the details.
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I apologize for the white thumbnails on my ideas. I got in contact with support and found the issue was being caused by a VPN browser extension.