$LINK slid about 3.8% today and is sitting around 11.33, basically on top of the 24h low at 11.23. The last few 4h candles keep printing lower highs from 11.86, and every bounce is getting sold before 11.45.
On the NanoTrading Fire chart the 4h volume profile has its value area low right around 11.23, so this is the line. Above, the liquidation heatmap shows the real magnet: a ~$98.5M short liq cluster at 12.00, stacked right on the POC at 11.99, with another ~$63.9M near 11.85-11.90.
Binance perps tell a messy story. OI bled from about $100M to $95.6M over the last few 4h bars while price dropped, so longs are closing, not new shorts piling in. But the crowd keeps buying the dip anyway: global long/short went 1.98 to 2.05 and top traders 1.56 to 1.64, with funding sitting at 0.01%. That much long lean into a downtrend makes me careful.
My plan: no long while $LINK is under 11.45. If 11.23 holds and we reclaim 11.45, I think the 11.9-12.0 short pocket gets tagged. Lose 11.23 on a 4h close and those crowded longs are probably the fuel for a flush lower.
Would you trust the dip-buyers here or wait for them to get washed out first?
NFA, just how I'm reading it 👀
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#LINK #NanoTrading #Altcoins
On the NanoTrading Fire chart the 4h volume profile has its value area low right around 11.23, so this is the line. Above, the liquidation heatmap shows the real magnet: a ~$98.5M short liq cluster at 12.00, stacked right on the POC at 11.99, with another ~$63.9M near 11.85-11.90.
Binance perps tell a messy story. OI bled from about $100M to $95.6M over the last few 4h bars while price dropped, so longs are closing, not new shorts piling in. But the crowd keeps buying the dip anyway: global long/short went 1.98 to 2.05 and top traders 1.56 to 1.64, with funding sitting at 0.01%. That much long lean into a downtrend makes me careful.
My plan: no long while $LINK is under 11.45. If 11.23 holds and we reclaim 11.45, I think the 11.9-12.0 short pocket gets tagged. Lose 11.23 on a 4h close and those crowded longs are probably the fuel for a flush lower.
Would you trust the dip-buyers here or wait for them to get washed out first?
NFA, just how I'm reading it 👀
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#LINK #NanoTrading #Altcoins
