Chainlink(LINK): Will or When We Short?

Chainlink caught our attention as well, with some decently high potential for the reverse to happen soon!

We are monitoring the coin after multiple BOS and FVG zones are left on the lower zones, which are waiting to be filled.

As the price had a nice breakup at $17.10, we are looking for that same sentiment to be re-tested.

So we shared two potential entries for a short position here; now starts the waiting game.

Swallow Team

Comment:

While Chainlink seems to be forming a top as of now, we are looking for that re-test to happen.

We have also displayed the resistance of Bollinger Bands, which is currently acting as a major resistance zone (upon breaking it, we will see further movement to the upper zones).

The middle line of BB has been broken, and now we need to see the security of that as well!!

Comment:

Chainlink is slowly pressing and not giving any dominance chance for buyers, which means our idea is still valid.

If we do not see any pressure from bulls until the end of this week, then we will see a nice correctional re-test, most likely 😉

Comment:

While LINK is slowly pushing to lower zones, we are looking for any potential zones where we could top up the position (if we see a potential short-squeeze).