LINK/USDT 1H: Bearish Momentum – Short Setup Targeting $15.80?

LINK/USDT 1H: Bearish Momentum – Short Setup Targeting $15.80?
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Current Market Structure:

• Price at $16.03 with strong bearish momentum, having broken multiple support levels.
  
• Clear bearish structure with a bearish breaker formed at $17.20 and multiple BOS confirmations.
  

Market Maker Activity:

• Distribution phase is in effect, with market makers likely targeting $15.80 support.
  

Technical Indicators:

• RSI is oversold at 26.51, yet momentum remains bearish.
  
• No hidden divergence visible on the current timeframe.
  

Key Levels:

• Resistance: $16.80 (previous support turned resistance).
  
• Support: $15.80 (next major support level).
  

Trade Setup (Confidence 8/10):

• Entry:
  
• Look for a relief bounce in the $16.20-$16.40 zone.
  
• Targets:
  
• T1: $15.80
  
• T2: $15.40
  
• Stop Loss: $16.85 (above the recent breaker).
  

Risk Score:

• 7/10 – High volatility environment but with a favorable risk-to-reward if key levels hold.
  

Recommendation:

• Wait for confirmation of a bounce in the $16.20-$16.40 range before entering the short position.
  
• Given the oversold conditions and distribution phase, avoid chasing the current move.
  
• Monitor price action closely as the downtrend continues toward the $15.80 support.
  

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