Possible large LINK drop in next two days. Great opportunity!
I love Link, but have some indications of a decent size drop in the next 2 days. Could be a great opportunity for a buy if it pans out. I would be very careful shorting with low leverage on a coin like Link in a bull market but that could be a play as well.
1) There is a bearish divergence on the 4 hr that is significant with many indicators showing the same.
2) The last 2 bearish divergences on the 4hr resulted in 32%-47% dips. All to around the 200MA
3) The last 2 bearish divergences went from the high to the bottom of the drop in 1 day and 16 hours for both of them. Possibly coincidence or possibly a pattern that will repeat again.
4) If this works out-- it means we are about to drop for the next almost two days down to the 200MA area.
5) I put the buy zone box a little above this area as there is a good support/resistance area from the weekly chart just above that.
6) So buys could be placed above that weekly S/R, with a few laddered below to the bottom of the zone and the next weekly S/R.
The only reason I would want link to drop is to get more for less. But any of you on high leverage may want to reduce or pause that for a bit just in case.
I wouldn't short it, but keep some funds ready for this opportunity if this is one of the bags you want to acquire or add to.
1) There is a bearish divergence on the 4 hr that is significant with many indicators showing the same.
2) The last 2 bearish divergences on the 4hr resulted in 32%-47% dips. All to around the 200MA
3) The last 2 bearish divergences went from the high to the bottom of the drop in 1 day and 16 hours for both of them. Possibly coincidence or possibly a pattern that will repeat again.
4) If this works out-- it means we are about to drop for the next almost two days down to the 200MA area.
5) I put the buy zone box a little above this area as there is a good support/resistance area from the weekly chart just above that.
6) So buys could be placed above that weekly S/R, with a few laddered below to the bottom of the zone and the next weekly S/R.
The only reason I would want link to drop is to get more for less. But any of you on high leverage may want to reduce or pause that for a bit just in case.
I wouldn't short it, but keep some funds ready for this opportunity if this is one of the bags you want to acquire or add to.
Trade active:
Looking good so far. There is slightly more sideways movement than expected, more like the first divergence. But on track. We need a drop below $19.22 or so and I think this will likely work out.
Because of the sideways action, the 200MA will be slightly higher. Not financial advice, but my first bids will be at around $16. with a bid just above 200 MA, above the $14.90 weekly s/r. and a random one at the bottom of the box.
ALl would be great prices. If you know get filled--- plenty of other opportunities. And we are always on crazy buy or sell from invalidation. Fingers crossed!
Because of the sideways action, the 200MA will be slightly higher. Not financial advice, but my first bids will be at around $16. with a bid just above 200 MA, above the $14.90 weekly s/r. and a random one at the bottom of the box.
ALl would be great prices. If you know get filled--- plenty of other opportunities. And we are always on crazy buy or sell from invalidation. Fingers crossed!
Trade active:
This is still going, now with some help from the whole downward momentum of the market. Because it is extended, I'm not sure when the power move down might be.
There is decent weekly resistance around 18.80-- we are already intruding on the week from those weekly candles now.
If we get through that-- $17.58 and $16.51 are the next hurdles I see with les momentum. After that-- it hits my personal buy zone target, starting around early $16's and anything down. $15 bids, $14.45, and $13.92. Don't expect the last two to get filled except with a lucky wick-- but must try. --Then, all other things being equal-- I continue to go long long long.
There is decent weekly resistance around 18.80-- we are already intruding on the week from those weekly candles now.
If we get through that-- $17.58 and $16.51 are the next hurdles I see with les momentum. After that-- it hits my personal buy zone target, starting around early $16's and anything down. $15 bids, $14.45, and $13.92. Don't expect the last two to get filled except with a lucky wick-- but must try. --Then, all other things being equal-- I continue to go long long long.