ChainLink ($LINK) Analysis: Ready for a Breakout?
Trading Range:
LINKUSDT
has been oscillating between $5 and $9.5 for the past 1.5 years.
Today's Surge: LINK is up 17% today, hinting at a possible bullish momentum.
Bitcoin ETF Impact: With potential Bitcoin ETF approval, a break above the $10 resistance for LINK could be on the horizon.
Volume & Potential Play: A breakout should ideally be backed by high volume. After $10, the next resistance level would be at $12 with a potential stop loss at $8 would give a solid 1:1 risk-to-reward ratio. I'm also going to be adding some to my long-term portfolio in preparation for the next bull run. 🤑
Disclaimer: This is for informational purposes only, not financial advice. Always do your research before investing.
Happy trading! 🚀
LINKUSDT
has been oscillating between $5 and $9.5 for the past 1.5 years. Today's Surge: LINK is up 17% today, hinting at a possible bullish momentum.
Bitcoin ETF Impact: With potential Bitcoin ETF approval, a break above the $10 resistance for LINK could be on the horizon.
Volume & Potential Play: A breakout should ideally be backed by high volume. After $10, the next resistance level would be at $12 with a potential stop loss at $8 would give a solid 1:1 risk-to-reward ratio. I'm also going to be adding some to my long-term portfolio in preparation for the next bull run. 🤑
Disclaimer: This is for informational purposes only, not financial advice. Always do your research before investing.
Happy trading! 🚀
Trade closed: target reached:
I guess everyone had their TP set at $12. We literally touched it and started falling.
Easy 20% secured. If we see a Daily candle close above $12, we could see a continuation.
Easy 20% secured. If we see a Daily candle close above $12, we could see a continuation.