LINK is now around 9.48u. This move has been rising from 8.29 up to 9.75. In seven days, it gained 14 points. Now it has pulled back a bit and is trading near the high.
First, the conclusion: both the trend and the money are still there, but at this level I won’t chase it.
The money is indeed still there. In the past three hours, spot saw net inflows for 12 candles with none negative. Large orders are also net entering—consistent with the direction I mentioned in my previous two posts. Futures open interest has piled up to the highest in nearly six months, and the quadrant indicator is still strongly bullish.
However, several short-term signals are cooling. RSI at 71 and MFI at 86 are already overbought and getting overheated, while volume is only around the average level. The price can still rise, but participation hasn’t fully followed through. The contract-side aggressive buy/sell order flow is tilted toward selling, and the funding rate has dropped from positive recently to slightly negative. The big-player long/short positioning ratio has also been contracting over the past seven hours. In the last 15 minutes, spot large orders have even flipped to net outflow. Price is also sitting right under the 9.75 resistance and just below the 10-dollar psychological level.
In plain terms: the structure hasn’t broken, but in the short run it’s being pushed forward by overbought conditions and overcrowded longs. Chasing in while stuck at the resistance zone doesn’t offer good value.
My approach: don’t chase; wait for a pullback. The area around 8.9 is a strong support from where this move started. On a pullback, it can be picked up and if volume expands again, the uptrend can continue higher. Buying up around above 9.5 is essentially purchasing the entire drawdown risk up front.
#link $LINK
First, the conclusion: both the trend and the money are still there, but at this level I won’t chase it.
The money is indeed still there. In the past three hours, spot saw net inflows for 12 candles with none negative. Large orders are also net entering—consistent with the direction I mentioned in my previous two posts. Futures open interest has piled up to the highest in nearly six months, and the quadrant indicator is still strongly bullish.
However, several short-term signals are cooling. RSI at 71 and MFI at 86 are already overbought and getting overheated, while volume is only around the average level. The price can still rise, but participation hasn’t fully followed through. The contract-side aggressive buy/sell order flow is tilted toward selling, and the funding rate has dropped from positive recently to slightly negative. The big-player long/short positioning ratio has also been contracting over the past seven hours. In the last 15 minutes, spot large orders have even flipped to net outflow. Price is also sitting right under the 9.75 resistance and just below the 10-dollar psychological level.
In plain terms: the structure hasn’t broken, but in the short run it’s being pushed forward by overbought conditions and overcrowded longs. Chasing in while stuck at the resistance zone doesn’t offer good value.
My approach: don’t chase; wait for a pullback. The area around 8.9 is a strong support from where this move started. On a pullback, it can be picked up and if volume expands again, the uptrend can continue higher. Buying up around above 9.5 is essentially purchasing the entire drawdown risk up front.
#link $LINK