🔥 LINK Triangle Break Out: Update

Recently I've made an analysis on LINK where I stated that it was breaking out of the triangle. In the end, it appeared that the break-out was just a fake-out, as the price retraced towards the bottom trend line of the channel.


Currently, we're looking at quite a bullish picture. BTC appears to be bullish (as per my latest BTC analysis) and some alts are killing it lately.

 
All of this is good news, also for LINK. I'm currently looking at the $22 resistance to be the major point of reversal. It's located at a recent local high, plus the channel top trend line. After this, I'm expecting a minor retrace towards the channel bottom support.

Obviously, if BTC becomes massively bullish, there's a big chance that LINK will burst through the $22 resistance and move up towards $25.

In the more bearish case I'm looking at the red area of support. I'm not expecting that LINK will go below $15 again in the near future. In case LINK will enter the red area of support it will be a perfect moment for a potential long term trade.

Happy trading!