How To Trade LINK - Retracement with Moon Potential [PART II]

In this idea I will walk you through the most important parts on the chart of LINK on the 1H and continue my previous analysis.

First of all, you can find my previous analysis here:

We can see that the price has indeed been confirmed on the horizontal support level. Overall the cryptocurrency markets are going down, but it's safe to say that LINK has still be performing relatively well.

There are still many LINK bulls out there who are buying, keeping the price moderately high.

I previously suggested that the price was a bit too high and that it would be best to wait before entering a position. Right now the time has come. The price is exactly at the support level, and this could be a great moment to enter LINK.

From my previous analysis:

Link has been performing extremely, extremely well over the last weeks. With an astonishing 1400% growth over the last few months it's been the hero we all wish we could be.

In this technical analysis I will walk you through how I suggest to trade a pair that has been seen such a crazy uptrend.

First of all, it's noteworthy that you should never buy a coin that's already peeking. When there's just been a huge green candle, you are too late. You wish you were in, but don't FOMO buy.

Always wait for retracements. Retracements such as ... the one right here in front of you! THIS is the moment to buy, after plenty of red candles.

The age old principle stands, buy low and sell high.

As for the exit, if you're more of a scalp trader I suggest to leave before the $20 level again as this is a likely place where it finds resistance.

If you want to HODL LINK, then you can try to aim for the 'Moon Zone'. In this area the price might rise like there is no tomorrow, and simply holding it might bring great benefits.