ChainlinkLargo
LINK - Good entry point coming soon?
Actualizado
I'm ready to start making gains on LINK again, I don't know about you guys. We've got favorable conditions for some profit over the next month if things play out accordingly.
As always, DYOR, but the way things are looking on the daily, in my opinion LINK is continuing it's consolidation with slowing velocity and unless the price closes well below support or reverses direction, a breakout is likely. Not ready to test the ATH I don't think. Outside of centralized exchanges, there is much interest in X:LINK Liquidity Pools, with a favorable amount of ETH -> LINK swaps.
With support at $9.48 I think the week of 2-OCT-2020 -> 12-OCT-2020 will present a good buying zone for future profits. Judging by the loss of velocity in price decline over the last two waves, I've arrived at the point I have, turns out that a 38% decrease in velocity over 19 bars pretty much hits the established support; also a good sign when a little math coincides with what's on the chart.
I'll be keeping my eye out closer to the 12th for an entry below $9.
This is not financial advice, DYOR (Do your own research): I am just a walking, talking bag of meat. You wouldn't take financial advice from a walking, talking bag of meat would you? I didn't think so.
LINK again, I don't know about you guys. We've got favorable conditions for some profit over the next month if things play out accordingly.As always, DYOR, but the way things are looking on the daily, in my opinion LINK is continuing it's consolidation with slowing velocity and unless the price closes well below support or reverses direction, a breakout is likely. Not ready to test the ATH I don't think. Outside of centralized exchanges, there is much interest in X:LINK Liquidity Pools, with a favorable amount of ETH -> LINK swaps.
With support at $9.48 I think the week of 2-OCT-2020 -> 12-OCT-2020 will present a good buying zone for future profits. Judging by the loss of velocity in price decline over the last two waves, I've arrived at the point I have, turns out that a 38% decrease in velocity over 19 bars pretty much hits the established support; also a good sign when a little math coincides with what's on the chart.
I'll be keeping my eye out closer to the 12th for an entry below $9.
This is not financial advice, DYOR (Do your own research): I am just a walking, talking bag of meat. You wouldn't take financial advice from a walking, talking bag of meat would you? I didn't think so.
Nota
- Zooming into 4H, we see a false breakout above the 100 EMA on SEP-25.- LINK has been testing this level in a descending channel since then.
- At time of writing, a third wave has just started, again being rejected by the 100 EMA.
- Accumulation/Distribution momentum is bullish.
Will purchase if we get a candle close outside of the downward channel on 1D time-frame **and** close above 100 EMA on 4H time-frame
Operación activa
Opened long position on 7-OCT-2020 at $8.54.Target 1: Sell 25% @ $10.50 - REACHED 10-OCT
Target 2: Sell 25% @ $12.05
Target 3: Sell remaining 50% @ 15:00
Nota
Stop loss for remaining LINK set at $8.75. Officially mitigating all risk from initial purchase at $8.54.As each target is reached, I will be adjusting my stop-loss to the previous target.
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