i am still holding my link from our $1.6 entry and 1.8 entry. We are in very good position right now. The question is, do we dump? As of right now, I think the answer is No. Link has been holding up relatively well as we have seen BTC and other majors fall. If we look at the weekly MACD we can see that link has actually been gaining strength. RSI has also ran it's course and is not in oversold territory anymore.
Which leads to this potentially massive pattern, the inverse head and shoulders. We already had one IH&S that traded and worked quite well. if we are forming another one, it appears we have a few more days before it completes and we could get a move up to $5. For those trading, trade the break. Buy in after we surpass $3, for those hodling, like i am. Continue to hold unless we see something else emerge that would change things.
What's critical here is that if we are going to dump our position that we don't do it prematurely. This is crypto, it's crazy. So we might get a spike down to $2.5 to run stops before moving back up again. Tread lightly and happy hodling,
-Sherem
Which leads to this potentially massive pattern, the inverse head and shoulders. We already had one IH&S that traded and worked quite well. if we are forming another one, it appears we have a few more days before it completes and we could get a move up to $5. For those trading, trade the break. Buy in after we surpass $3, for those hodling, like i am. Continue to hold unless we see something else emerge that would change things.
What's critical here is that if we are going to dump our position that we don't do it prematurely. This is crypto, it's crazy. So we might get a spike down to $2.5 to run stops before moving back up again. Tread lightly and happy hodling,
-Sherem
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Folks... we're compressing about ready to bust up in LINK
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Still compressing. Here is what I see...
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Check it out... we're in the process of breaking up. $4.50-$5 is next
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This pattern is still valid as long as we stay above this $2.7 support/ascending triangle.
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update:
