LINKBTC Uptrend| Structural Support| 200 MA Pivot

16 במאי 2020

Today’s Technical Analysis – LINKBTC - trading in a clear long term uptrend putting in consecutive higher lows.

Points to consider,
- 200 MA support confluence
- Double top resistance
- Structural support (trade location)
- Stochastics projected own

LINKBTC has been respecting the 200 MA where a retest usually ends with an impulse move up. Structural support is in confluence, solidifying a trade location, price is likely to pivot at this region.

The double top resistance is a visual target if support is respected, break above this will lead into a blue sky breakout.

Stochastics is currently projected down; the RSI is not officially oversold, indicating further downside momentum likely.

Overall, in my opinion, a valid long entry at structural support is a decent trade idea with clear risk mitigation.

Invalidation will be below the recent swing low under structural support

What are your thoughts?

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And remember,

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros