LINK has been consolidating in almost a year (May 2022). The price action seems to be a Wyckoff accumulation (Schematic 1) and a Spring/Test is under confirmation.
As a result, a trade set-up is as in chart. One can enter here (risky option) or wait for a successful retest (safer option).
Generally, it's important to consider also BTC moves for risk management of all other trades. In my opinion, BTC is facing a strong resistance at $30000.
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LINK had made +20%.
Now i'm waiting for retest $5.4-$5.5 to re-enter
Now i'm waiting for retest $5.4-$5.5 to re-enter
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Link was 32% up
Still on good track to the upper ranges.
Still on good track to the upper ranges.
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+53% since entry, possibly one more push then LINK will reach the current target
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LINK view in short-term
Closing above the EMA 50D is good sign for the next leg up. To be confirmed at daily close.