Parabolic move reached its climax top - time to die for LINKBTC?
Hello there, this is our view on LINKBTC, enjoy!
Analysis:
Link recently ran a bull rally which brought the price up to 0.786 fibo, where a strong daily resistance is located. Meanwhile it drew a perfect parabolic move (4 bases, climax top or double top incoming) which, as a natural end, will dump the price. Volumes are decreasing and probably won't provide enough strength for a breakout to take place. There are multiple moving averages golden crosses pending, so a further continuation is expected after a little retracing. Either EMAs do. Daily candle is very likely to close doji, which is a weak reversal signal. Price far in overbought on daily bollinger bands, which are bullish tho but may expect a retracing through 0.382 - 0.236 fib. Most oscillators formed bearish divergences from overbought all over last week and now are still in overbought on daily! Particularly stochastic is just about to form a death cross in overbought on daily, which will be an extremely bearish turn in the very next future. Either did awesome and moving average convergence/divergence, which are stating a strong bull trend.
Strategy:
Due to many bearish engulfings, dark cloud covers and a doji I do believe that a margin short is the best.
Entry (short): 49860 - 51438 - 51655
Target (mid-term): 47231 - 44505 - 40099 (even lower, this are the safe exit levels)
Stoploss: 52866
Risk/reward: 5.5
Tip: I suggest you should trade this margin with 3x-5x leverage because of very good risk/reward ratio. Stoploss is at -3% from entry, which is to be considered safe even with low leverage. Adopt a thorough money management (suggested 10-20% of your balance) and do your own researches.
Trade safe and stay at home. Anlvis
Analysis:
Link recently ran a bull rally which brought the price up to 0.786 fibo, where a strong daily resistance is located. Meanwhile it drew a perfect parabolic move (4 bases, climax top or double top incoming) which, as a natural end, will dump the price. Volumes are decreasing and probably won't provide enough strength for a breakout to take place. There are multiple moving averages golden crosses pending, so a further continuation is expected after a little retracing. Either EMAs do. Daily candle is very likely to close doji, which is a weak reversal signal. Price far in overbought on daily bollinger bands, which are bullish tho but may expect a retracing through 0.382 - 0.236 fib. Most oscillators formed bearish divergences from overbought all over last week and now are still in overbought on daily! Particularly stochastic is just about to form a death cross in overbought on daily, which will be an extremely bearish turn in the very next future. Either did awesome and moving average convergence/divergence, which are stating a strong bull trend.
Strategy:
Due to many bearish engulfings, dark cloud covers and a doji I do believe that a margin short is the best.
Entry (short): 49860 - 51438 - 51655
Target (mid-term): 47231 - 44505 - 40099 (even lower, this are the safe exit levels)
Stoploss: 52866
Risk/reward: 5.5
Tip: I suggest you should trade this margin with 3x-5x leverage because of very good risk/reward ratio. Stoploss is at -3% from entry, which is to be considered safe even with low leverage. Adopt a thorough money management (suggested 10-20% of your balance) and do your own researches.
Trade safe and stay at home. Anlvis
交易進行
交易結束：目標達成
Nice
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