1h / 1D time frame
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On the left chart, LINK get rejection from the resistance zone(10.7~12.3), and I think there is a possibility to create a Head and Shoulders structure.
On the right chart, top 9.45 and bottom 5.45 are a box range. LINK has already broke above the top resistance at 9.45 and start consolidating. This is might be a liquidation hunting, once...
12h time frame
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On the basis of our BTC analysis, market need a dump to correct price and liquidate long as much as possible before bull. Also, we can see LINK has strong trend recently, it broke above that box range and goes into the resistance zone from 10.7~12.2, which is good to set short trading plan. Target is 0.4~5.7, this is also the sweet price to buy spot.
price made false break out a range
big news to come
-instrument formulated range of 406 days
if you like the idea, please "Like" it. This is the best "Thanks!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and please yourself and your friends.
For the past 3 weeks, LINK traded in a range with extremes at $6.2 and $6.8. The range high aligns with a critical former support level in late March/April.
The range-low coincides with a bullish OB (white) on the 4-hour chart formed on 12 May.
A possible rebound at mid-range could see LINK rally to the range high of $6.8, especially if BTC reclaims...
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For this particular analysis on LINK we are using the LINKUSDT symbol on the Phemex exchange.
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The idea is on the 1D time-frame where LINK (LINKUSD) is consolidating ever since the May 12 low and the short-term rebound that followed. On a more long-term perspective though, the price seems to be repeating the consolidation of early December 2021,...
