ChainLink / TetherUSUpdated 🔥 LINK Dead Cat Bounce: More Temporary Upside Likely
LINK is one of the few larger cap tokens who's seeing decent inflows from investors, it already gained over 70% since bottoming out a couple of weeks ago.
However, I'm betting that this is just a dead cat bounce. LINK has been trading in a relatively stable ascending channel. If I were a bear, I'd be shorting (and/or taking profits) at the top of the channel, causing relative weakness with a potential trend reversal as an outcome.
For now, I think there's more juice in this move. Be aware that once BTC starts dropping, LINK will follow.
However, I'm betting that this is just a dead cat bounce. LINK has been trading in a relatively stable ascending channel. If I were a bear, I'd be shorting (and/or taking profits) at the top of the channel, causing relative weakness with a potential trend reversal as an outcome.
For now, I think there's more juice in this move. Be aware that once BTC starts dropping, LINK will follow.
Note
Acending channel = Descending channel. Typo!
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✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
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✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.