Hello Future Millionaires!
We have seen many alts rally from their 382 Fibonacci to their 618 Fibonacci retracements this weekend. If anyone else can pull through, it’s the LINK bulls, so I’m looking for a similar long as I’ve seen many other atls hit!!! We just confirmed a 2H candle close above the triangle formation, which has a target above the 382 Fib. I suspect that price will continue up to the 618 Fibonacci if it starts closing 2H/4H candles above the 382 Fibonacci! This setup is time sensitive as BTC will likely come back down tomorrow, upon open to close the gap at 17K . If it does, then LINK will likely see a pullback as well or go sideways.
Best of luck traders!!!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
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Entry Zone: 12.87 – 13.41
Leveraged Risk: 46.2%
Leveraged Reward: 133.2%
Risk Assessment: MEDIUM (today) HIGH (after today)
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.