$LINK bounced about 3% on the day and is sitting near 11.46 after tagging 11.73 earlier. That came after the flush to 10.25 a few days ago, so the question now is whether this is a real recovery or just a relief bounce.
On the NanoTrading Fire chart (4h) the POC is up at 11.99 and VAL around 11.23, so price is stuck in the lower half of the value area. The liquidation heatmap shows dense bands right underneath at roughly 11.0-11.2, and a thick stack overhead at 11.8-12.1, sitting right on the POC.
Binance futures data leans pretty one-sided. The long/short account ratio is about 1.70 and top traders are near 1.62 long by position, so the crowd is already long. Funding cooled off to around +0.002% per 8h and OI is about $91M, roughly flat on the day.
My read: with that many longs, a sweep of 11.0-11.2 wouldn't surprise me before any push. A clean 4h close above 12 flips the POC and opens the way higher for $LINK , while losing 11.0 puts the 10.5 area back in play 👀
Would you buy the dip into 11.1 or wait for 12 to break first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#LINK #Chainlink #NanoTrading
On the NanoTrading Fire chart (4h) the POC is up at 11.99 and VAL around 11.23, so price is stuck in the lower half of the value area. The liquidation heatmap shows dense bands right underneath at roughly 11.0-11.2, and a thick stack overhead at 11.8-12.1, sitting right on the POC.
Binance futures data leans pretty one-sided. The long/short account ratio is about 1.70 and top traders are near 1.62 long by position, so the crowd is already long. Funding cooled off to around +0.002% per 8h and OI is about $91M, roughly flat on the day.
My read: with that many longs, a sweep of 11.0-11.2 wouldn't surprise me before any push. A clean 4h close above 12 flips the POC and opens the way higher for $LINK , while losing 11.0 puts the 10.5 area back in play 👀
Would you buy the dip into 11.1 or wait for 12 to break first?
NFA, just my chart notes.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#LINK #Chainlink #NanoTrading
