#TradeStories #AltcoinTrade #LINK #CryptoStrategy
Chainlink (LINK) is fluctuating around the strong resistance zone of 16.4–16.6 USD, where the price has been continuously rejected but sellers have not truly gained the upper hand. In the H1–H4 timeframe, LINK is still closely following the EMA and upper Bollinger Band – a sign that the short-term uptrend is still in effect, especially as BTC continues to hold above 103.5k.
However, the current price range is quite risky for Short positions. If LINK breaks the support at 15.95–16.05, the likelihood of a correction to 15.5 is significant. Conversely, if it holds the base, the price could bounce back to 16.65+.
Proposed trading strategy:
Long if it holds the base at 16.05–16.15, SL 15.78, TP 16.45–16.65
Short if it breaks 15.95, SL 16.22, TP 15.5–15.1
Don't trade on emotions – wait for confirmation and stick to the signals!
P/s: After analyzing and assessing the risk-to-reward ratio, I decided to close the Short position at 16.259 while waiting for better opportunities and signals, even though the profit did not meet expectations, but the correction has been completed.
