CHAINLINK ($LINK) 🔗 | Can the Link Marines Breach Resistance?
⛓️LINK is typically nonstop good news and bullish price action machine. This is in no small part to Chainlink's oracle technology being embraced by so much of the crypto ecosystem. With that said, LINKUSDT is up against some very real resistance here.
Do the Link Marines have what it takes to take out the previous highs, or is this one battle that even the Marines can't win? Spoiler [it doesn't matter, because we have a beautiful long setup betting on them at least attempting to go to battle].
Resources: coindesk.com/trust-no-dapp-chainlink-launches-oracle-for-provable-randomness + cryptoslate.com/chainlinks-price-oracles-power-derivatives-and-crypto-finance-products-running-on-new-defi-exchange/
✨Drop a comment asking for an update, we do NEW setups every day! ✨
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1. Fractal Trend is showing an uptrend (Navy colored bars) on the 4-hour timeframe. This uptrend has been in play for a good portion of the post-COVID recovery.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Navy colored lines) and/or bullish S/R levels plotted by Directional Bias (Navy colored lines).
3. The trade is to buy the S1 bullish S/R flip. Our stop is placed with the assumption that S1 will hold and we will avoid a liquidity hunt (this is somewhat common as highlighted on the chart.
4. While we think the move could go to the R2 orderblock formed during the breakaway from the range highs back in March. We will be front running this exit by targeting R1. Even there we are front running the orderblock to ensure an exit.
5. Other levels of interest include S2 and S3 for the bulls, with the orderblock cluster at S2 being especially important to hold to maintain some bullish price structure.
~We appreciate you going to battle, and we hope you end up winning the fight. Good luck Marines!
Do the Link Marines have what it takes to take out the previous highs, or is this one battle that even the Marines can't win? Spoiler [it doesn't matter, because we have a beautiful long setup betting on them at least attempting to go to battle].
Resources: coindesk.com/trust-no-dapp-chainlink-launches-oracle-for-provable-randomness + cryptoslate.com/chainlinks-price-oracles-power-derivatives-and-crypto-finance-products-running-on-new-defi-exchange/
✨Drop a comment asking for an update, we do NEW setups every day! ✨
Like, Comment & Follow to help the community grow 🎉🎉
---
1. Fractal Trend is showing an uptrend (Navy colored bars) on the 4-hour timeframe. This uptrend has been in play for a good portion of the post-COVID recovery.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Navy colored lines) and/or bullish S/R levels plotted by Directional Bias (Navy colored lines).
3. The trade is to buy the S1 bullish S/R flip. Our stop is placed with the assumption that S1 will hold and we will avoid a liquidity hunt (this is somewhat common as highlighted on the chart.
4. While we think the move could go to the R2 orderblock formed during the breakaway from the range highs back in March. We will be front running this exit by targeting R1. Even there we are front running the orderblock to ensure an exit.
5. Other levels of interest include S2 and S3 for the bulls, with the orderblock cluster at S2 being especially important to hold to maintain some bullish price structure.
~We appreciate you going to battle, and we hope you end up winning the fight. Good luck Marines!
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