$LINK is sitting 0.4% above its daily EMA20 at $13.3679, and that thin cushion is the whole trade.
30d is +16.12% and it's beating bitcoin by 7.6 points over that stretch. the 7d is -6.06%, which reads like a pullback inside an uptrend, not a break of one. the daily stack still lines up, RSI 52 isn't stretched, and the 4H MACD has turned positive.
the ugly part: volume over the last 5 days is 0.49x the 20 days before it. so i'm not calling a breakout, i'm calling a drift back to the 20-day mean at $13.7406, 2.4% away. quiet tape, short leash. setup score is 10 out of 14, not a 14.
$LINK trades at $13.42 right now, with a 24h range of $12.84 to $13.49. if it holds $13.3679 on a daily close, i think it walks up to $13.7406. if it loses $13.3679, i'm wrong on this and there's nothing to defend. anyone long is then sitting on nothing until the $12.84 low.
holding $13.3679 or losing it?
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30d is +16.12% and it's beating bitcoin by 7.6 points over that stretch. the 7d is -6.06%, which reads like a pullback inside an uptrend, not a break of one. the daily stack still lines up, RSI 52 isn't stretched, and the 4H MACD has turned positive.
the ugly part: volume over the last 5 days is 0.49x the 20 days before it. so i'm not calling a breakout, i'm calling a drift back to the 20-day mean at $13.7406, 2.4% away. quiet tape, short leash. setup score is 10 out of 14, not a 14.
$LINK trades at $13.42 right now, with a 24h range of $12.84 to $13.49. if it holds $13.3679 on a daily close, i think it walks up to $13.7406. if it loses $13.3679, i'm wrong on this and there's nothing to defend. anyone long is then sitting on nothing until the $12.84 low.
holding $13.3679 or losing it?
follow me for more calls like this.