Have called the short at 8.5. After a majestic 100% rally in just few days, bulls are taking a breath while bears are cashing in.
Link bounced at support in 7.1 area, but we might experience further downward pressure to 6.8 where 100 moving average sits and 5.8-6 at 200 MA levels. Overall am bullish on the coin, but better to be cautious, as also MACD doesn't...
The 4 hour is bullish as we speak, but we should monitor the key level at 9.
Upper trend line will be target price of 1st bearish wave, lower trend line will be target price of deeper bearish pressure.
If 9 breaks then major move upwards.
Would look for a short entry around all time high price with extremely tight stop losses.
LINK has ran out stop losses below, break of small time frame market structure now looking BULLISH. I am waiting on a pull back to structure and price rejection (WICKS) to the down side to then take long to target the highs above. IF i do not get the pull back to market structure i will not enter this trade