LINK has dropped, and it looks like a fairly normal correction. The swings are pretty big, with sharp moves back and forth that can easily shake both longs and shorts out of their positions.
Let’s start with the numbers: it’s at 9.82 now, down 3.10% on the day, with a 6.5% range. It traded between 9.62 and 10.25 today. It’s in the lower-middle of the range, and buyers are barely catching it.
The 7-day moving average is 10.34, and the price is 5.0% below it. It’s down 9.5% over the past 7 days. It’s too early to call this a reversal. 10.25 has been the ceiling over the past few days; unless it breaks through, this is still just range-bound trading.
My approach is simple: I’ll wait for it to get back above the 7-day moving average before making any decisions. Personally, I’m not a fan of this setup.
Which side are you on at this level?
(Just my own observations, not advice)
#LINK #市场情绪 #TradingNotes
Let’s start with the numbers: it’s at 9.82 now, down 3.10% on the day, with a 6.5% range. It traded between 9.62 and 10.25 today. It’s in the lower-middle of the range, and buyers are barely catching it.
The 7-day moving average is 10.34, and the price is 5.0% below it. It’s down 9.5% over the past 7 days. It’s too early to call this a reversal. 10.25 has been the ceiling over the past few days; unless it breaks through, this is still just range-bound trading.
My approach is simple: I’ll wait for it to get back above the 7-day moving average before making any decisions. Personally, I’m not a fan of this setup.
Which side are you on at this level?
(Just my own observations, not advice)
#LINK #市场情绪 #TradingNotes