LINK Symmetrical Triangle Breakout Shows a 65% Gain!

31 Okt 2022

LINK is showing relative strength in the cryptosphere at this point (along with MMATIC, NEAR, and others). LINK has been printing a symmetrical triangle for the past 150 days. The measured move for a breakout of this triangle brings price to about $13.00, which is a 65% increase in price from this point. 

LINK Weekly Triangle


LINK Daily Triangle


Approximate 65% Increase to Final Target


Looking for a daily close above resistance at $8.10 for continuation. 
 

Potential 1:10 R:R Long Setup! This setup is invalidated with a 4H close below the prior 4H low at $7.48.


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Do you think price will break out of break down from this triangle?!?!? Let's hear your thoughts!

Let's go bullz! Let's get this crypto!



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Not financial advice. Imperative everyone conduct their own research prior to entering any trade and/or investment!

2 Nov 2022

Nota

There was a TON of volatility at the FMOC meeting today! My take on the meeting is that it was BEARISH. We can see that LINK came down to the 4H support zone and is thus far holding.

As long as support around the last prior wick low holds I am looking for continuation upwards!

I have revised my long setup and associated target. The new target is $10.75 (new target), with possible continuation up to $13.00 (old target).

2 Nov 2022

Nota

The 4H chart is looking BEARISH! This setup may be invalidated soon! I will be looking for scalp shorts down to the bottom side of the symmetrical triangle in the coming days!

2 Nov 2022

Nota

If we lose support here, then find support again at the bottom side of the triangle, then this could be a coming bullish setup.

4 Nov 2022

Nota

LINK has been relatively quiet today. It is currently in a tight range between $7.65 - $8.00.

4 Nov 2022

Nota

I suspect a break of this range will decide direction for the next impulse!