Will LINK break lower, allowing for a re-accumulation?
I see two scenarios playing out over the next couple hours-days.
Scenario 1- BTC continues a steady bleed or hovers around the $32500 range, allowing LINK to move back up slowly.
Scenario 2- BTC breaks lower, sending LINK down with it, past its previous support. In this case there will be new opportunities to reaccumulate if you sold past $20, and this could be one of the last accumulation phases that will be seen for a while. We do note, however, that LINK is particularly bullish in bear markets. Therefore, we may see a day of trend reversal if the market as a whole breaks lower. That is, to see LINK in the green while other alts are in the red.
Either way, LINK is macro-bullish and has a long way to go in BTC comparative before profit taking is in the question.
Scenario 1- BTC continues a steady bleed or hovers around the $32500 range, allowing LINK to move back up slowly.
Scenario 2- BTC breaks lower, sending LINK down with it, past its previous support. In this case there will be new opportunities to reaccumulate if you sold past $20, and this could be one of the last accumulation phases that will be seen for a while. We do note, however, that LINK is particularly bullish in bear markets. Therefore, we may see a day of trend reversal if the market as a whole breaks lower. That is, to see LINK in the green while other alts are in the red.
Either way, LINK is macro-bullish and has a long way to go in BTC comparative before profit taking is in the question.
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