Link Possibilities, Channel Analysis-- Long?
Hi all,
The chart is pretty self explanatory, but this is a look at LINKBTC. Right now weve been holding at the top of the downtrend line (yellow). Should we continue up, the top of the descending channel is a good place to take some profits. I doubt the second target is valid unless BTC soon shows a continuation of latest run up.
However, we could very easily break this and fall at least to the bottom of the channel. So, if you trade-- hold a tight stop loss as buying back in at the bottom of the channel would also be a good play.
Not trading advice!
However I am making the trade.
The chart is pretty self explanatory, but this is a look at LINKBTC. Right now weve been holding at the top of the downtrend line (yellow). Should we continue up, the top of the descending channel is a good place to take some profits. I doubt the second target is valid unless BTC soon shows a continuation of latest run up.
However, we could very easily break this and fall at least to the bottom of the channel. So, if you trade-- hold a tight stop loss as buying back in at the bottom of the channel would also be a good play.
Not trading advice!
However I am making the trade.
Comment:
I wish I did this trade.. (And didnt sell at my targets ;) ) WAHHHH