🚨 $LINK Update – Critical 1H Levels! 🚨
Chainlink (LINK) is at a pivotal point. After a recent pullback, two scenarios are in play:
Bullish Continuation (Blue Count)
Extended Correction (Yellow Count)
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🔑 Key Support & Resistance Levels
Wave 2 Support Zone: $23.23 – $22.62
Critical Threshold: $22.62 (Loss here weakens bullish scenario)
Formal Invalidation: $21.88 (Ends current 1–2 setup)
Weekly Macro Support: $19.30 – $13.20 (Long-term bullish outlook intact above this zone)
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📈 Bullish Case (Blue Count)
Hold above $22.62
Break above $24.40 (Swing high) confirms low is in
Clearing the yellow trendline unlocks potential for $47+
📉 Bearish/Extended Case (Yellow Count)
Fail below $22.62 leads to deeper pullback toward $19.30–$13.20
Does not invalidate long-term bullish view, but delays upside
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🌀 Market Structure Notes
Move up into this region has only three waves (ABC), lower confidence for immediate bullish case
Current decline resembles a three-wave corrective move, keeping both bullish and extended corrective scenarios on the table
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⚡ Trade Setups
1️⃣ High-Probability Scalp Long
Entry Zone: $23.23 – $22.62
Stop-Loss: $22.40
Take-Profit Targets:
TP1: $24.40
TP2: $25.00
Risk/Reward: ~1:2.5
Leverage: 3–5x
2️⃣ Swing Long Setup
Entry Zone: $22.62 – $21.88
Stop-Loss: $21.70
Take-Profit Targets:
TP1: $27.50
TP2: $32.00–$33.00
TP3: $47.00+
Risk/Reward: ~1:4+
Leverage: Spot or 2–3x
3️⃣ Contingency Short (if $22.62 breaks with volume)
Entry: Breakdown and retest $22.60–$22.40
Stop-Loss: $23.10
Targets:
$21.88 → $19.30
Leverage: 3–5x, small size
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📌 Key Levels to Watch
$24.40: Flip this level and bulls regain control
$22.62: Loss here tilts risk toward deeper correction
$21.88: Absolute invalidation of the immediate bullish count
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Trade Smart, Stay Safe, and Keep an Eye on the Charts! 📊
---$LINK
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