LINK is now around 9.33u. Yesterday I said I wouldn’t chase at this level, and today it has already returned here on its own. The pullback came faster than I expected.
First, look at the short term. Price fell all the way from the high at 9.75. The 1-hour and 4-hour trends are both down. In the futures market, sell orders are actively being matched and are clearly outweighing buy orders; the long-side share is only 35%. The short-term distribution hasn’t finished yet. The 15-minute moving averages are still overhead too. It’s still too early to say the bottom is in.
But don’t rush to flip short. Move forward seven days: this move was a strong trend from 8.16 up to 9.75. On the daily chart, the structure is still bullish—price is above the 10/50/200-day moving averages, and MACD is still positive. More importantly, spot capital hasn’t withdrawn. The last 3 hours show net inflow across 12 K-bars—all positive. Large orders are still coming in, and big-account longs are close to 60%.
The current contradiction is very straightforward: the money for the mid-term is still in the game, but short-term sell pressure has taken the lead. In this situation, both sides can easily get hit. If you chase a short, you risk getting taken over by the mid-term funds; if you chase a long, you worry that the distribution hasn’t finished.
My stance is still to observe with a slight bullish bias: don’t chase at this level. The key is whether support around 9.3 can hold. Can spot inflows and open interest continue to sustain things through the pullback? If it holds, then look for a rebound to fill. If it breaks down, then watch the platform around 8.96. Wait for confirmation—don’t rush in.
#link $LINK
First, look at the short term. Price fell all the way from the high at 9.75. The 1-hour and 4-hour trends are both down. In the futures market, sell orders are actively being matched and are clearly outweighing buy orders; the long-side share is only 35%. The short-term distribution hasn’t finished yet. The 15-minute moving averages are still overhead too. It’s still too early to say the bottom is in.
But don’t rush to flip short. Move forward seven days: this move was a strong trend from 8.16 up to 9.75. On the daily chart, the structure is still bullish—price is above the 10/50/200-day moving averages, and MACD is still positive. More importantly, spot capital hasn’t withdrawn. The last 3 hours show net inflow across 12 K-bars—all positive. Large orders are still coming in, and big-account longs are close to 60%.
The current contradiction is very straightforward: the money for the mid-term is still in the game, but short-term sell pressure has taken the lead. In this situation, both sides can easily get hit. If you chase a short, you risk getting taken over by the mid-term funds; if you chase a long, you worry that the distribution hasn’t finished.
My stance is still to observe with a slight bullish bias: don’t chase at this level. The key is whether support around 9.3 can hold. Can spot inflows and open interest continue to sustain things through the pullback? If it holds, then look for a rebound to fill. If it breaks down, then watch the platform around 8.96. Wait for confirmation—don’t rush in.
#link $LINK