$LINK bounced from the 10.9 flush earlier this week and is now grinding around 11.65, up about 2% on the day. On the NanoTrading Fire chart the 4h POC sits at 11.99, and that's exactly where the biggest pocket of short liquidations is parked, roughly $99.6M near 12.00 with another ~$64.9M around 11.8.
Under price the long side is thinner and split up: about $43M and $41M stacked around 11.45-11.55, and another ~$42M near 11.3, just above the value area low at 11.23.
Binance perps are slowly loading up. OI went from about 7.90M to 8.14M LINK (~$94M) over the last day, funding is the default 0.01%, and ~66% of accounts are long (L/S 1.97), with top traders even more long at 2.41.
My read: $LINK holding 11.45 keeps the magnet pointed at that 11.8-12.0 short stack, and a clean 4h close above 12 is where it gets interesting. Lose 11.45 and those long clusters down to 11.3 probably get cleaned up first.
Do you think 12 gets tagged this week, or is the crowd too long here?
NFA, just my read of the map.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#LINK #NanoTrading #CryptoTrading
Under price the long side is thinner and split up: about $43M and $41M stacked around 11.45-11.55, and another ~$42M near 11.3, just above the value area low at 11.23.
Binance perps are slowly loading up. OI went from about 7.90M to 8.14M LINK (~$94M) over the last day, funding is the default 0.01%, and ~66% of accounts are long (L/S 1.97), with top traders even more long at 2.41.
My read: $LINK holding 11.45 keeps the magnet pointed at that 11.8-12.0 short stack, and a clean 4h close above 12 is where it gets interesting. Lose 11.45 and those long clusters down to 11.3 probably get cleaned up first.
Do you think 12 gets tagged this week, or is the crowd too long here?
NFA, just my read of the map.
Source: NanoTrading Fire chart (nanotradingclub.xyz)
#LINK #NanoTrading #CryptoTrading
