✴️ ChainLink 6X Short (290% Potential | For Advanced Traders)

ChainLink (LINKUSD.P) continues to move within a distribution phase, lower highs, really low volume... It's been many years since we have a distribution phase across many Altcoins, this is not yet confirmed.

If prices move and close above the last high, 17.68 and continue to hit a new resistance level, instead of distribution we had consolidation. If we see a breakdown happen from this range, we have a confirmation of the distribution phase. It can go either way.

➖ Sell at resistance.
➖ Buy at support.

This is not financial advice.
Leveraged trading is high risk and can result in all money lost.
Do your own research.

We use a manual stop-loss so patience is key.
Trust as well is needed if you don't understand the setup.

Adjust live to market conditions if the chart setup changes.
Wait patiently and the market will take care of everything.
There is always a second, third and even fourth chance... In fact, the market offers endless opportunities on both sides.

👉 Up to 290% with 6X.
Time expectation between 2-4 weeks for the full move to develop, can be a bit more...

There is a strong support at 10.25 before reaching the lower level.
👉 The potential for this target is 195% with 6X.

Thank you for reading.

Feel free to comment with your thoughts and questions.

You are truly appreciated for your time and continued support.

Namaste.

Comment:

Here is what I am seeing on the 4H timeframe:

- A rising wedge;
- Lower high;
- Wick above resistance, close below.

Comment:

Patience is needed as usual; the chart setup remains intact.

Yesterday we have high volume and a break below EMA50 after a lower high (strong combination of bearish signals).

The RSI is bearish below 50.
It only needs time and it will move lower.

The fact that no new highs happened (based on candle close) since early December '23 gives much strength to the bearish side.

Once the bearish wave is over we will look at the bullish wave.

We go step by step; We read the charts; We follow the market.

We do not care which way it goes... We predict the future.

Namaste.

Comment:

Here Chainlink can be seen moving below EMA10 weekly:

This move below EMA10 happens as a lower high compared to 25-Dec.
This means that we will get a lower low compared to 1-Jan.

👉 This tells us that the next target is set at 11.38 within the coming days.
It will go lower, but this is the first stop on the next drop.

Namaste.