LINK has just been ripping away at the market and is making massive moves every few days. Even though these large moves are not only to the up side but quite considerable moves to the downside as well this makes LINK a bit more risky to trade in my opinion.
Having said that if you do find a proper entry and plan accordingly you can reap great rewards from this DEFI altcoin.
As we can see LINK is currently trading in a descending triangle and as I always say this is theoretically bearish, however in this bull run it has proven to almost be 100% bullish on most coins setting new ATH's so for this scenario we can assume with good accuracy that LINK will most probably break out to the upside.
What I would like to see is another rejection from the top trend line and LINK coming back down to the 30 dollar area to retest the support it has there. I think a great entry would be after this support has been confirmed and a continuation of the price upwards seems to be in play. This to me would be the best R/R trade on LINK and could net massive profits if executed properly.
Having said that if you do find a proper entry and plan accordingly you can reap great rewards from this DEFI altcoin.
As we can see LINK is currently trading in a descending triangle and as I always say this is theoretically bearish, however in this bull run it has proven to almost be 100% bullish on most coins setting new ATH's so for this scenario we can assume with good accuracy that LINK will most probably break out to the upside.
What I would like to see is another rejection from the top trend line and LINK coming back down to the 30 dollar area to retest the support it has there. I think a great entry would be after this support has been confirmed and a continuation of the price upwards seems to be in play. This to me would be the best R/R trade on LINK and could net massive profits if executed properly.