A break below $13.50 on $LINK would signal that the recent rally was only wave 1, not the beginning of a sustained uptrend.
Traders keep buying every dip thinking this is the start of something bigger, but missing the wave count means you end up holding bags when the correction hits. That's how you lose money on what looked like a sure thing.
The $8.28 to $11.50 area is still acting as crucial support for $LINK right now. It's the zone that needs to hold if this bounce is going to last. A decisive break under $13.50 would confirm the top is in for this wave, often leading to a retrace that takes out recent lows.
We've seen similar patterns play out when $BTC starts consolidating and $ETH volume dries up. The risk is getting trapped in a position that looks safe until it isn't.
Where do you think this $LINK setup heads if that key level gives way?
#LINK #ElliottWave #CryptoTA
Traders keep buying every dip thinking this is the start of something bigger, but missing the wave count means you end up holding bags when the correction hits. That's how you lose money on what looked like a sure thing.
The $8.28 to $11.50 area is still acting as crucial support for $LINK right now. It's the zone that needs to hold if this bounce is going to last. A decisive break under $13.50 would confirm the top is in for this wave, often leading to a retrace that takes out recent lows.
We've seen similar patterns play out when $BTC starts consolidating and $ETH volume dries up. The risk is getting trapped in a position that looks safe until it isn't.
Where do you think this $LINK setup heads if that key level gives way?
#LINK #ElliottWave #CryptoTA
