$LINK got flushed from ~11.96 to a 10.25 wick yesterday and has quietly clawed almost all of it back. Sitting around 11.31 now, +3.5% on the day on Binance futures.
What I like about this bounce: OI didn't chase it. Open interest slid from ~$93.7M to ~$89M across the last few 4h prints while price recovered, so this doesn't look like late longs piling in. Funding is barely positive (~0.002%), retail is ~63% long accounts and top traders ~61% long on positions. Leaning long, not crowded.
NanoTrading Fire chart 4h has the ceiling pretty clearly marked. Short-side walls of $61.0M around 11.85-11.90 and $98.3M right at 12.00, with POC ~11.99 sitting on the same spot. Below, the liquidation heatmap's thickest band is 11.00-11.10, then 10.60-10.70 near the wick low.
My read: 11.0-11.1 is the line to hold. If it does, I think
$LINK goes back to test that 12.00 stack, and acceptance above it opens the 12.2-12.35 liq bands. Lose 11.0 and the 10.6 band is next 👀
Do you think 12.00 breaks on the first try or rejects?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
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